FVS Accounts Solution

DEPOSIT CASH AND CHEQUES TO BANK

Problem:

When I bank cash at the same time as Cheques the Cash amount doesn't appear on the deposit slip.

Solution:

This is because Cash deposits will never be lumped with cheques in the bank account but will always appear as a separate transaction. With FVS it is best not to mix CASH and BANK deposit on a single deposit slip, but to make out one for cheques and one for cash. In this way your BANK will make two transactions for you and your BANK ACCOUNT statement will show the two transactions separately, making it easier for you to reconcile your figures later on.

Note: In FVS you can bank cash in two ways, either using ACCOUNT TRANSFERS – BDL, or by entering a Cash amount in the ‘PREPARE BANK DEPOSIT SLIP' option. With the second method, cheques will be batch totalled and appear in the BANK ACCOUNT immediately, as a single total, but, any cash deposits (as with cheques paid on expenses) will only show up on the BANK RECONCILATION SCREEN after Posting the General Ledger).