General Ledger Q&A: Creating Deposit Slips

July 2020    Tags: ,

We make a daily deposit to our bank for all payments received that day and they show as a single entry on our bank statements. However, when we perform our reconciliation, each payment is an individual journal entry. Is there any way to combine these transactions so that they match the deposit values from our bank statements?

By creating deposit slips in GLS, you can combine multiple transactions into a single entry. You can even print out the deposit slip and take it to your bank. When performing your reconciliation, you will see the deposit slip instead of the individual transactions that make up that deposit.

To create a deposit slip

  1. From the File menu, point to Open and select Deposit Slips.
  2. Press Ctrl+N.
  3. Enter the Deposit Date.
  4. Select the GLS Account #.
  5. Click the Select Receipts button.
    1. Verify Cash and Checks is selected.
    2. Select the receipts to be included on the deposit slip.
    3. Click OK.
  6. Press Ctrl+S.

The journal entries will now appear as a single deposit in the reconciliation.

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