Below is a partial transcription of the video above:
“For this video, we’ll go through how to use the Deposits feature in Dynamics 365 Business Central and to receive payment and apply them. There are multiple ways to do it, but the two main ways are using the payment journal and receiving cash or doing a deposit.
If we go to the Deposits screen, we’ll see that there is nothing because we don’t have any open deposits. So, we’ll create a new one here. If we click out of there, it’ll give us a default numbering sequence. So, it’ll pick 1004 for us. For the Bank Account No., we can select the bank account we want to deposit this into – Checking. For the Total Deposit Amount, I have a figure in my head here for our three checks that we’re going to deposit today – 11984.55.
We have our Posting Date here which is defaulted to our Work Date as well as the Document Date. We have a couple of Dimensions we can input as well. Going on to the lines of our deposit, if we wanted to deposit some customer payments, we would choose the Customer Account Type and then we will select our customer here. We will use Litware, Inc. The description will auto fill here, and our Document Date is usually the Check Date. So, we could be doing this deposit on 1/1/2018, but the check was written on 12/26/2017 and you would enter that in here to record the check Document Date. The Document No. will usually be the Check No. So, we will do TestCheck01. Let’s say this check was for to 2853.48.
Now that we have our one line here, you’ll notice that the Total Deposit Lines will equal to what is shown in our lines down here. And since we only have this one for the 2853.48, it’ll show up here and then calculate the Difference between that and the total deposit amount. One thing to note is that you will not be able to post this deposit until this Difference is zero.
Once we have our line here, one thing we can do is apply this check payment for an open sales invoice As it is right now, if we were to post this and the difference is zero, this payment would be an open payment, it would be applied to any invoices and if we had an invoice for this amount, it would be left as an open invoice. So to do that we could either do it that way and apply it later on or we can apply it here through the Apply Entries feature. It will bring up the Customer Entries for this client or a customer and show us the amount we have to apply for our payment.
So this one lines up with this invoice over here, this 2853.48, so if we go ahead and click here and hit Process -> Set applies to ID, you’ll notice that it’ll fill out the Applies to ID with the Document No. we filled in for that check line. So you’ll notice this will say ‘TestCheck01’ as we filled it in and our balance here will be zero as it is all applied to this invoice. We go ahead and click OK. That’ll be applied.
Then we can do some more lines here. Do the same one 12/26/2017 for this one as well, TestCheck02, have this one for 5096.57. For demo purposes, we’ll just go ahead and make the posting date a little bit later on and we will say that these checks are being applied to some very old invoices.
Let’s go ahead and Apply Entries now. So that will be applied for its full balance. Now, we still have this 4034.50. If we wanted to select a different customer, we could do that as well. So let’s say we have a check from Alpine Ski House.
Enter the Document date, TestCheck03 and lets do our 4034.50. Alright, so now that our Difference is zero, we can post it. You’ll notice that I didn’t apply this invoice yet. We can go through that after this is posted. Go ahead and Post this deposit.”
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