I have made a deposit without receipts and now I need to reclass. Can anyone tell me when I initially enter a deposit without receipts, 'where the $$' is assigned in the GL??
I want to assign my deposits to GL codes now, but don't know the origination ledger accounts when initially done:
thanks
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Victoria: Thank you for your response. I now understand that deposit w/o receipts does not affect the GL. I guess I need to DAJ the checkbook register the amount of the deposit and enter a journal entry which will hit the correct ledger accounts and the checkbook register.
Thank you for your assitance.
Also note: at my employment we use CAPS for all entries in GP: didn't mean to 'shout' at anyone.... just asking for help
Kelly,
The issue, if I understand it correctly, is your Bank Rec is overstated by the amount of the deposit. If the deposit is already reconciled, you cannot void it. To fix this in the Bank Rec module you can enter a Bank Transaction of type Decrease Adjustment and have it go to the same Cash account for the debit and the credit. This will create a Bank Rec decrease, but will not change the GL.
Separately, if there is something wrong in the GL, it was not caused by your 'Deposit without receipts', as others have correctly pointed out nothing on the Bank Deposit Entry window will update the GL (unless you have some kind of customization doing this, which is unlikely). Depending on specifically what is wrong in the GL, you could possibly fix it at the same time as entering the Decrease Adjustment I mention above, but without truly understanding what you have already done and what the issue is, it's very difficult to recommend a fix.
If this does not help answer your questions, please reply back with more details of exactly what was done and what it is that you need to fix.
My 2 cents for the future: Deposits without receipts should only be used to fix something that did not go in properly. Using them as a routine type of transaction will typically only cause problems, as you are creating a transaction in the subledger that is not tied to anything in the General Ledger. If you need to put something in a 'holding' account until you can reclass it, use a Suspense account in the General Ledger.
Also, please note that posting forum messages in all caps is the equivalent of shouting at the people that are trying to help you.
NOTHING MORE HAS BEEN DONE IN GP AFTER THE DEPOSIT W/O RECEIPTS WAS ENTERED.
THE PERIOD IS CLOSED AND THE BANK REC FOR THE MONTH IS DONE. IF I OPEN THE PERIOD BACK UP AND VOID WILL I HAVE MORE PROBLEMS WHEN I GO TO RECONCILE THIS NEXT MONTH. IS DEPOSIT W/O RECEIPTS MORE OF A 'HOLDING' ACCT & UPDATES THE CHECK BOOK ONLY?? SO IF I VOID HOW SHOULD I REENTER THE TRANSACTION TO UPDATE THE CHECKBOOK AND THE GL??
The GL is not updated when you post a deposit without receipt. The checkbook balance is. You can void the deposit without receipt.
A Bank Deposit transaction updates the Checkbook balance only and is not tied to a GL related transaction. In a traditional workflow, the GL would generally be updated by AR Cash Receipts and then the deposit is the actual record of deposit within the bank account (however this may be). How was the GL originally updated in your organization's workflow around cash receipts/deposits?
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