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Reconcile Deposits with Deposit Reports

Updated

What this does: Matches your GrowthZone deposits to your bank account, using reports that show deposit totals, the payments in each deposit, and the fees and net amounts behind them.

Applies to: GrowthZone staff with access to Finance. The reports are on the Billing Dashboard under Reports.

Before you start: Know the deposit date range you are reconciling.

Time needed: 10 to 15 minutes per month.

Which report to use

You want… Use
The total of each deposit, to match against bank deposits Deposit Summary Report
The individual payments that make up each deposit Deposit Report
Payments with processing fees and net amounts, by deposit date Detailed deposit report

Deposit Summary Report

Lists every deposit created in GrowthZone with its total. Use it to match GrowthZone deposits, including credit card deposits, to the deposits in your bank account.

  1. Go to Finance, Billing section, click Dashboard. Under Reports, in Banking, click Deposit Summary Report. The report opens in a new browser tab.
  2. Set your filter criteria, such as the deposit date range.
    Deposit Summary Report with Date Range, Fields to Display, Summarize By and RUN REPORT boxed
  3. Under Display Options, adjust Fields to Display if needed. By default the report shows account name, deposit amount, deposit date, notes and total payments.
  4. Optionally choose Summarize By (for example, account name).
  5. Click Run Report.
    Deposit Summary Report results with the Deposit Date and Deposit Amount columns boxed

Deposit Report

Lists the payments that make up each deposit, with any processing Fees and the Net Deposit. Use Trade/External Type or additional filters to narrow it down.

  1. Go to Finance, Billing section, click Dashboard. Under Reports, in Banking, click Deposit Report.
    Finance Billing Dashboard with the Banking reports group (Cash Receipts Report, Deposit Report, Deposit Summary Report) boxed
  2. Select a Deposit Date Range. If you leave it blank, every deposit is included.
  3. Optionally choose a Trade/External Type or add Additional Criteria / Filters, such as payment type.
  4. Under Display Options, adjust Fields to Display (by default: Amount, Deposit Date, Deposit Notes, Entered By, Fees, Net Deposit, Paid From, Payment Date, Payment Type, Reference Number), and set Summarize By to Deposit Date to see the payments behind each deposit total.
  5. Leave Display Mode on Detail. Summary shows only a count of deposits.
  6. Click Run Report.
    Deposit Report summarized by Deposit Date, with one deposit and the payments, fees and net deposit in it boxed

Detailed deposit report (fees and net amounts)

When you need more than basic payment information, build this report from the Accounting Transaction Report and save it for reuse.

  1. Go to Finance, Billing section, click Dashboard. Under Reports, in Accounting General Ledger, click Accounting Transaction Report.
  2. Set Transaction Type to Payment and enter the payment date range in Transaction Date Range.
  3. Under Additional Criteria/Filter, add Deposit Date Between and enter your deposit date range.
  4. Under Fields to Display, add Deposit Date, Fees and Net Amount.
  5. Set Summarize By to Account Name and click Run Report.
     
  6. To reuse it, click the arrow beside Run Report and select Save as New Report. Next time, just change the date ranges.

Common pitfalls

  • Only a count of deposits: Display Mode is set to Summary. Switch to Detail.
  • Report runs for all time: no deposit date range was entered.
  • Bank deposit lower than GrowthZone total: processing fees were taken out. Use the detailed report to see fees and net amounts.

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