Handling Auto Deposits Using Cash Management
Learn how to make a Cash Management entry once your payroll cycle (with auto deposits) is updated.
Use your Payroll Listing for auto deposit totals as a reference when completing the steps below.
- On the Site Map screen, click .
- In the Bank account field, use the drop-down menu to select the bank account that the auto deposits checks were written against in the Payroll module. Otherwise, manually enter the applicable bank account code.
- Complete the G/L date, Statement date, Opening balance, and Ending balance fields according to your company's reconciliation standards.
- Click the Adjustments button. When the Transactions to be Recorded window displays, click the Deduction button.
- In the Date field, enter the date of the Payroll auto deposit checks.
- In the Reference field, type a G/L reference for this transaction per your company's standards (for example, PR).
- In the Description field, enter a description of the transaction per your company's standards (for example, Auto Deposit Check Total).
- In the Amount field, enter the total amount of the Payroll auto deposits. You can attain this information from the Payroll listing.
- In the G/L code field, enter the liability account code established in the field.
- Click the Update button and then print or preview the information.
- On the Bank Reconciliation Transaction Update screen, select Continue. When the update is performed, Spectrum automatically assumes the transaction to be a reconciled item.