Default Deposit in Payment Entry

Description of Issue
  • What is the Default Deposit field in Payment Entry?

  • What does the Default Deposit field in Payment Entry do? 

  • New Payment Entry Reference field after upgrading.

  • What happened to the Deposit Number field in Payment Entry?

Context
  • Accounts Receivable

  • Payment Entry (arbilinq) 

  • Default Deposit 

Cause

The Deposit Number field in Payment Entry is now the Default Deposit field in v2019.1+. 

The Default Deposit used as a reference for depositing payment batches with financial institutions.  This is slightly different from the v11.3 field Deposit Number. In addition to being created at the time of entry, in v2019.1+ default deposit references can also be stored and accessed via the help field. The new version also allows users to specify a deposit override based on payment method.

Resolution

The Default Deposit field is used as a reference for depositing payment batches with financial institutions.

This field functions differently than the Deposit Number field in prior versions. Previously, the Deposit Number field stored a deposit reference for an entire batch of payments. Current versions have the new ability to store a deposit reference for each individual tender within a batch. 

If a value is entered in the Default Deposit field, then each tender created within the batch will automatically have the Default Deposit value as its deposit. The tender's deposit can be overwritten at the time of entry, but setting a Default Deposit can be utilized to save data entry if the majority of the tender deposits will be the same and it ensures that every tender in the batch has a deposit. 

If it is desired that different tender types (CHECK, CASH, CREDIT CARD, etc.) have separate Default Deposits, these values can be set when adding a new batch or updating an existing unreleased by entering a Default Deposit and then clicking Overrides and entering the desired Deposit Reference for each Deposit Tender Type (then click Accept and Accept again). 

Additional Information

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