How to Create a Bank Deposit and Link it to an AR Balance to Record a Prepayment
29 steps
3 minutes
1
Navigate to Brokerage Engine.
2
Click the "Accounting" tab to navigate to the module
Create the Bank Deposit
3
Click the "Quick Actions" menu.
4
Click "New Bank Deposit"
5
The Default Operating Account selected on the Configuration Panel. A new Bank Account can be selected using the dropdown menu.
6
The Date can be adjusted using the small calendar icon.
7
Select the Payment Method "Check" using the dropdown menu.
8
Click the button "Add Line".
9
Using the dropdown menu select the Customer profile for the agent.
10
Using the dropdown menu select Accounts Receivable.
11
Type a Description in the corresponding field.
12
Type an Amount in the corresponding field.
The Amount of the Bank Deposit should match the Amount of the check received.
13
Select the Class tied to the Agent.
14
Click "Save"
15
Click "OK"
Apply Payment Towards Invoice
16
Click the "Sales" tab.
17
Click the "Customers" option.
18
Type the name of the Agent in the "Search Customer" field.
19
Click on the name of the Agent.
20
The Customer profile will populate.
21
The Invoice shows as Open on the Agent Facing side of the system.
22
In the Accounting module, click the "+" of the Invoice to record the Payment.
23
From the Invoice Detail Page, select the Credit created by the Bank Deposit.
24
The field for "Amount Received" should remain at "0".
If the "Amount Received" field has an amount other than zero, it will create a Bank Deposit.
25
The field for "Amount to Credit" should remain at "0".
If the "Amount to Credit" field has an amount other than zero, it will create a Credit on the Customer profile.
26
Click "Save"
27
Click "OK"
28
The Invoice will show a Paid status in BE Accounting.
29
The Invoice will show a Paid status in the Agent Facing side of the system.
The Paid Invoice status can take up to an hour to sync to the Agent Facing side of the system.
The Customer Credit Balance created by the prepayment will need to be manually applied to any subsequent Invoice.
