What is a Batch Deposit?

A batch deposit occurs when you put together payments from multiple customers in a single deposit. This can happen when you deposit cheques from different customers at the same time into your bank account, or have multiple credit or debit card payments from a merchant account transferred as a single deposit into your bank account. Using an Undeposited Funds account ensures that your deposit amounts on the Inbox page reconcile with those shown on your bank statement.

Using the Undeposited Funds Account

Use Undeposited Funds as the Payment Account

  1. Go to the Invoices tab located on the left menu.

2. Find the invoice and click on its "status" to update it.

3. Select the Payments tab and click on "Add Payment".

4. To reflect a payment on your customer's invoice, enter it like any other payment, but use the Undeposited Funds account for the Category.

Every time you receive a payment that you will deposit into your bank along with other payments, record the payment to the Undeposited Funds account.

Make a Transfer from Undeposited Funds to the Bank Account

Let's say that you went to the bank and deposited three cheques totaling $921.51 into your bank account.

  1. Cheque #234 - $300
  2. Cheque #8837 - $500
  3. Cheque #165 - $121.51

To record this, go to the Inbox tab.

Find the bank deposit and click on the amount to edit. 

Change the deposit from an Income record to a Transfer record. 

Record a transfer where the Withdraw From account is Undeposited Funds and the Deposit Into account is your Bank Account. If you like, you can add a Note referencing the cheques deposited, which makes it easier to track payments and deposits.

Now your $921.51 deposit will be posted from the Inbox tab to the Transactions tab, and your Kashoo invoices will match the amount deposited into the bank account. 

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