NavigateERP for African business

Bank deposits: banking cash and M-Pesa takings

Clear the money held in cash and mobile-money accounts into a bank.

Steps

  1. Go to Treasury > Bank deposits - the cards show what each cash and M-Pesa account holds, waiting to be banked.
  2. Click New deposit, choose the bank, date and deposit slip number; filter by account, branch, source or dates.
  3. Tick the receipts and POS takings being banked. Change Deposit now to bank part of an item.
  4. Check the journal preview (Dr bank, Cr the cash account) and click Post deposit (or save a draft).
  5. A mistake? Open the deposit and Reverse it with a reason: the items go back to be deposited again.

Good to know

  • An item can only be deposited once, never more than is left on it, and only into a bank in the same currency.
  • Deposits respect month-end close and appear in bank reconciliation.