Deposits

In NetSuite, record deposits to your bank accounts to capture customer payments and other monies received in the course of doing business. By recording funds deposited, you can accurately track income.

Typically organizations post customer payments received in the form of cash, checks, and credit card payments to the Undeposited Funds ledger account rather than to a specific bank account. This prevents a time lag between the amount shown on your books for a bank account and the bank balance. When you record a deposit, NetSuite moves funds out of the Undeposited Funds account to the ledger account for the bank account, to accurately reflect bank account balances.

If you record customer payments directly to a bank account rather than to Undeposited Funds, you do not need to create deposits for those amounts.

To record deposits you make to your bank accounts, go to Transactions > Bank > Make Deposits.

You can edit a saved deposit in the Deposits list. You can also delete a recorded deposit from the Deposits list. For more information, see Making Deposits.

Information on using deposits in this topic includes:

Additional Information

Removing Undeposited Funds Lines from Deposits
Recording a Customer Deposit

Related Topics

Permissions for Banking Features
Checking
Transferring Funds
Company Credit Cards
Financial Institution Records
Bank Data Import
Automated Cash Application
Bank Data Matching and Reconciliation
Bank Account Reconciliation and Reporting
Bank Feeds SuiteApp
Auto Bank Statement Import SuiteApp
Bank Statement Parsers SuiteApp

General Notices