The Undeposited Funds is a General Ledger account that acts as the primary Cash Clearing account for the Autosoft System. In the Chart of Accounts this account will always be configured as account 9999 by default. It is important not to change the details of this account as there are many program functions that allocate money to this account based on the Account ID - a static pre-assigned number which cannot be changed by the user.

Generally we recommend you process the Undeposited funds as the funds will show on your Bank Account Transaction Statement i.e. 

• Credit & EFTpos Transactions  - if these appear as a whole lump sum for all transactions that day. To process the Undeposited funds this way, Enter the Post Date as it appears on your Bank Account and tick all the Credit/EFTpos transactions, in the summary you will see the total amount add up and when your transactions match the lump sum on your statement - Process.
• Cash -- when you take the Cash to the bank, the total of the deposit you made appears on your bank statement as a lump sum. To process the Undeposited funds this way, Enter the Post Date as the date you are making the deposit to the bank account,  tick all the Cash transactions, in the summary you will see the total amount add up and when your transactions match the lump sum you are going to deposit to the bank - Process.
• Cheques - when you take the Cheques to the bank, the total of the deposit you made appears on your bank statement as a lump sum. To process the Undeposited funds this way, Enter the Post Date as the date you are making the deposit to the bank account,  tick all the Cheque transactions, in the summary you will see the total amount add up and when your transactions match the lump sum you are going to deposit to the bank - Process.

Header Area

Reference - the system will generate this for you

Post Date - you must enter in that date the funds hit your bank account

Deposit to Bank A/C - you need to select the bank that funds belong to

Summary of Transactions area

If the transactions are then ticked off in the Bank Undeposited Funds, the Summary on the Right of the page will show the break-up of the payments

Account - if the transaction was for an Invoice or Debtor Receipt this will show the customer name, if it is a Non-Creditor Payment it will be the Payee or the Description of a Journal.

Ref - is the reference number of the transaction.

Date Posted - is the date of the transaction.

Type - is the tender type of the transaction.

Amount - is the total amount of the transaction.

Select - give you a tick box to select the transactions you wish to process to the selected Bank Account. If the transactions are then ticked off in the Bank Undeposited Funds, the Summary on the Right of the page will show the break-up of the payments

Buttons

Abort - if you want to abort the selections you have made in the Undeposited funds.

Refresh -always click on Refresh as soon as you go into this screen to make sure all the current transactions have added to your list.

Process By hitting the Process button, we can move these transactions to the Bank Reconciliation on the Post date your enter, to the bank account you have selected. Once funds have been processed to the bank rec, you can not move them back to the Undeposited funds so make sure you have all the correct transactions ticked before processing.