Deposits

Note: This version of Treasury is currently in Limited Availability (LA) for some of our customers. Throughout LA, create a Customer Support case to send your feedback to the Treasury LA team so we can monitor it as we prepare for general availability.

Deposits group payments from receivables and miscellaneous (misc) sources. To access the list of deposits, navigate to Receivables or Treasury. Under Related links, select Deposits.

To avoid banking errors, each deposit progresses through a process that begins when you add it. After payments are grouped for the deposit and ready for the bank, they are reviewed and approved by users with approve and post permissions. The process ends when the deposit is approved and its payments are posted to your bank account.

Note: Before you add deposits, you must add at least one bank account for them.

Deposit statuses identify the state of the deposit as it progresses.

  • Open — When a deposit is open, you can add or edit any payment associated with the deposit.

  • Pending approval — When you submit a deposit for approval by another user, the status changes to Pending approval. You can't add or edit payments, but you can update summary info such as the bank account and clear date, and include attachments.

    Note: To re-open and change payments for a pending deposit, select Menu, Open deposit.

  • Approved — After someone approves your pending deposit, the status changes to Approved. The link to approve deposits displays under Needs attention on the Receivables action hub for users with permissions to approve these.

    Note: You can't edit a deposit with an Approved status.

  • Approved — After someone approves your pending deposit, the status changes to Approved. The link to approve deposits displays under Needs attention on the Treasury action hub for users with permissions to approve these.

    Note: You can't edit a deposit with an Approved status.

You can void a posted deposit with an Open or Approved deposit status.

  • When the deposit status is Open, select More, Void on the deposit record page.

  • When the deposit status is Approved, select Menu, Open deposit on the deposit record page to first re-open the deposit. Next, select More, Void.

After you void the deposit, the record disables and the total deposit amount adjusts to $0. Voided also displays on the deposit record and each payment for the deposit.

Note: In addition to the deposit's status and its post status, the ability to void a deposit is also based on the user’s permissions.

A deposit becomes stale when it has an Open or Pending approval status and hasn't changed in 10 or more days.

To access stale deposits, go to Treasury. Under Needs attention, select Update stale deposits. Review and decide whether to submit them for approval or delete them.

Note: You can't delete a stale deposit if it has associated payments.

When accessing new or open deposits from Treasury, you can import and create new payment records using a .csv, .xls, or .xlsx file. If needed, download initial templates, then add payment details and upload.

Review each payment and double-check that categories and payment methods are accurate. Your import file must use valid categories which allow you to default distributions for new payments. Categories must use valid distribution sets to ensure a successful import. Also note that supported payment methods include Cash, Check, Credit card, EFT, Cashier's check, COD, or Other. Check payments must include check numbers or reference numbers.

After reviewing, select Import.