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Making deposits for retail sales summaries

When you make deposits at your bank, you probably make out separate deposit slips for amounts you'd like to show up separately on your bank statement. Do the same thing in QuickBooks so that your separate payment methods appear separately when you reconcile the bank account.

Recording a separate deposit now for each payment method type (such as Cash and Check, Visa and MasterCard, or Discover) makes it easier to reconcile your bank statements later. For example, you can select the Visa payments you want to deposit and complete the deposit, and then select Cash and Checks payments and complete that deposit.

To do this task

  1. Go to the Banking menu and click Make Deposits.

  2. In the Select Payments to Deposit list, click the payment or payments you want to deposit for the selected payment type.

    Note: Selected payments have a checkmark next to them.

    • To select all payments in the list, click the Select All button at the bottom of the list.

    • To clear all payments in the list, click the Select None button.

  3. Click OK.

  4. Repeat for each payment method type with payments to deposit.

  5. In the Make Deposits window, click in the Deposit To field and click your checking account.

  6. If the selected payment method is Cash and you paid a vendor out of the cash drawer:

    1. Enter an additional line for each vendor payment in the Make Deposits window with the vendor's name, the appropriate expense account, the class (if applicable), and the amount paid.

    2. In the Amount field, enter the amount paid out as a negative number.

      What if I'm increasing the balance in my cash drawer?

      What if I have several petty cash expenditures or purchased items with petty cash?

  7. Save the deposit.

  8. Continue recording deposits until you've completed the deposits for all payment methods.

See also

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