Bank Deposits

Documentation Index

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When To Use Bank Deposits

Use Bank Deposits for customer checks, cash receipts, lockbox batches, or other received payments that should be grouped into one bank deposit. This gives accounting one auditable deposit record instead of trying to reconcile each individual receipt against the bank feed.

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What Must Be Ready First

• The customer payment must already be recorded in Arcus.
• The receipt should be waiting in undeposited funds or an equivalent clearing account.
• The target bank account must exist and be linked to the correct GL cash account.
• The deposit date and total should match the bank deposit slip or bank feed amount.
• Any cash over, short, fee, or returned-payment issue should be understood before posting.

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Create a Deposit

1. Open Accounting.
2. Open Bank Deposits.
3. Click New Deposit.
4. Select the bank account that will receive the deposit.
5. Enter the deposit date from the bank or deposit slip.
6. Select the received payments that belong in this deposit batch.
7. Compare the selected total to the bank deposit total.
8. Save the deposit as a draft if it still needs review, or post it when it is ready for accounting.

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Understand Deposit Status

• Draft: the deposit is being prepared and should not be treated as final cash movement yet.
• Posted: Arcus has posted the accounting impact and the deposit is ready for bank reconciliation.
• Reconciled: the deposit has been matched to the bank statement.
• Voided: the deposit was reversed or cancelled and should no longer be used for reconciliation.

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How Deposits Connect To Reconciliation

After a deposit is posted, it should appear as a cash-side entry for the linked bank account. During bank reconciliation, match the deposit to the bank feed or statement line that shows the actual deposit clearing the bank.

• If the bank shows one lump deposit, group the matching payments into one Arcus deposit.
• If the bank shows separate deposits, create separate Arcus deposits for those receipts.
• If a payment was returned or short, correct the payment issue before final reconciliation.
• If bank fees were deducted, record the fee in the correct workflow so the net cash movement can be explained.

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Common Problems

• A payment is missing: confirm the customer payment was recorded and is not already included in another deposit.
• The total does not match: check for missing receipts, duplicate receipts, cash over or short, fees, or returned payments.
• No bank account is available: set up the bank account and link it to the right GL cash account first.
• The deposit cannot be edited: posted or reconciled deposits may require a reversal or correction workflow instead of direct editing.
• Period close blocks changes: if the deposit date is in a closed period, accounting may need to reopen the period or post a current-period correction.

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