Deposits

Note: This version of Treasury is currently in Limited Availability (LA) for some of our customers. To send feedback during LA, create a Customer Support case to help us review and prepare for general availability.

Deposits group payments from receivables and miscellaneous (misc) sources. To access the list of deposits, navigate to 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 a deposit as it progresses. Statuses vary and depend on whether or not your organization requires deposit approval for misc payments.

  • 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.

    Tip: Pending approval only appears when you require approving deposits.

  • Approved — After the deposit is approved, the status changes to Approved.

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

    Tip: If you require deposit approval, one user must submit for approval while another approves. The same user can't do both.

Note: To require approving deposits, select Enable deposit approval from Treasury, Settings. For more details, see Enable deposit approval.

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 hasn't changed in 10 or more days. To access stale deposits, go to Treasury. Under Needs attention, select Update [x] stale deposits. Review and decide whether to approve or delete them.

Tip: If you require approving deposits, a deposit becomes stale when it has an Open or Pending approval status that hasn't changed in 10 or more days.

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

You can delete a deposit when misc payments aren't associated with it. To do this, open the deposit record. Select More, Delete deposit.

Tip: If Delete deposit doesn't display, either misc payments are associated with it so you can't delete it or you don't have permission to delete deposits.

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. If errors occur, you can view a list of import exceptions, correct any issues, and import again.