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100 - Cash Receipts in Dynamics NAV 2018 Pt. 3

100 - Cash Receipts in Dynamics NAV 2018 Pt. 3        

We keep going, we are now gonna get into deposits, so it's the cash receipts series, we started with looking at the customer ledger entries and applying an entry inside the customer ledger entries, then we received cash with the cash receipt journal, and now we are gonna take a look at the deposit screen. The deposit screen effectively can do the same thing or the cash receipt journal can do the same thing as the deposit screen, the deposit screen is more focused on only deposits. We can do more things on the cash receipt journal so, let's take a look at that.

New Desposit
If I go here into new deposit, I’m creating a deposit to receive into the bank, so I get in the screen and the idea behind the deposit it's that it kind of looks like the deposit slip that you would take to the bank if you have checks and things like that.

Things are increasingly more digital today and I know in Europe most of the transactions are digital so that more just import for the banks, but in the US we still have a lot of checks, so we actually do still go to the bank with deposits or we have lockbox or something like that. In here, so this screen is meant to actually function as a deposit slip or checks, I do believe this is a US only module, it might be in some other countries but I don't think it's on the worldwide version so, that another note.

If I come in here, you see I get a new deposit number right here and I’m just gonna pick the bank account number that's gonna be our operating accounts and then I say well I’m getting 25,000 to deposit, Here I put the posting date, which is what I want to post into the chart, and The document date, which is the actual document date of the slip.

Those might be different, that's up to you. So I have 25,000 here for total deposit, and now I can come in here and say, we have a customer and it’s gonna be the Cannon group again and we got paid from them and the check from them was 58223 and the amount was 15,000, then we also got a check from New concepts that’s the check number for them and that was 10,000.

Now one thing is that I’m actually not gonna post that here, but look if I actually go into the account type, I do have multiple options here. I can actually have this come from a GL account so, it can come straight from a GL account into a bank account, which would be a real exception most of the time.

It could come from a vendor, what that means is that we are getting a refund from a vendor, I’m gonna deposit that into the bank account and then, of course, it can come from another bank account, that would be a transfer.

I’m not really sure where fixed asset inter company or employee would play here, maybe you could actually post it from an employee that they paid a company back etc, but again I think those are pretty much exceptions. The vendor though it's interesting you do get refunds from vendors.

Ok so, now we’ve set this up, we have the check number with the credit amounts etc, and I can just go ahead and post the slip. Now it's gone, and again I’m gonna go and take a look at the customer account and go into navigate for the entries and I can see that we got the 15,000 in here.

Now I did not apply it in the deposit, you saw how I applied before and I just left this open intentionally so, you could have obviously goes into deposit and go into apply entries and pick the entries there, so it would actually close out automatically.

And that's how deposits work, pretty straightforward, next time I’m gonna take look at how to actually un-apply and reverse, thanks for watching.     



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