Deposit batches in AccountsPrep are essentially the same as Cheque batches, but they relate to the receipt side of the bank.
Usage
For most clients they won’t be necessary to use unless:
When there are outstanding deposits/lodgements at year end that you want to post in the general ledger account for that bank, or
The client makes deposits (of cash/cheques received) using a deposit/lodgement book that they keep chronological records for (similar to a cheque book but for receipts lodged physically in the bank).
For some clients (or regions) deposit/lodgement books may be entirely unfamiliar, but we provide this full functionality so it’s available for those it applies to.
Functionalities
If you post a deposit batch, it will sit as an outstanding deposit on the bank reconciliation report until such a time as it is matched with the relevant receipt in the bank statement batch to reconcile it.
How to work with Deposit batches
The best reference material for Deposit batches is to check the various instructions on cheques, but think of it from the receipt side.