A client recently asked the following question:
“I have a deposit that does not equal the breakdown entered as sales receipts due to a "credit" on the deposit slip. I receive a direct deposit for a certain amount, in this case $500. I have 4 different clients listed on the accompanying statement. The breakdown entered on one sales receipt is:
• Client A- $250
• Client B- $250
• Client C- $250
• Client D- negative $250
As a result, the sales receipts for clients A-C total $750, but the actual amount deposited is only $500. How do I enter this? The clients are not invoiced, so I cannot enter a credit.”
Since this client is entering one sales receipt for multiple clients, they are using a generic customer and not capturing any customer detail. In this case, they can enter the negative $250 right on the sales receipt.
For those of you who enter separate sales receipts for each client you would select client A-C’s payments from undeposited funds and then add an additional line on the deposit for client D with negative $250.
In both cases, the deposit will total $500.