Deposit Slips

Deposit slips are a useful feature for reducing addition errors when adding up the list of cheques in the bank deposit book. First consult with your bank to gain approval of the form. Some banks want two copies of the deposit slip, as one goes with the cheques to the clearing house and one stays with the branch/teller. And, of course, you will want a copy for yourself.

Deposit slips are turned on in System Settings – Banking – checkmark in “Use Deposit Slips”. Turning on this feature also activates the pull down list for method of payment on receipts. You will now be able to select cash, cheque, money order, credit card, etc.

To use deposit slips for the first time, you may need to remove some old receipts.

To start, Tools – Deposit Slips or Ctrl + D, select the bank - OK. On the next window choose Select All. Clicking on the date twice will bring the newest entries to the top of the list. Carefully review the items and deselect the cheques you want to appear on your final deposit slip – then OK. This will clear the old entries.

Then repeat these steps - select bank - select all - select "Printer" output to print your deposit slip.

The totals on the deposit slips will always be equal to the receipts entered in PCLaw. Unless you misread the cheque when keying in the entry, the chance of bank errors will be greatly reduced. You can “Use Deposit Slips” when doing your bank reconciliations too, by placing a checkmark on the “Select Account” window.

As always, I invite your comments and suggestions for future posting topics. Next week – Past Due Notices.
Clyde