Creating a Bank Deposit

This feature, or some fields and options described, might not be available depending on your settings, security rights, or platform package.

Posting receipts and preparing a bank deposit are designed in AMS360 to be separate functions. The system has multiple access points for entering receipts, based on the job task you are performing. The receipts posted through these access points are then available by bank (bank account) in the Bank Center, for review and processing into a bank deposit.

Preparing a Bank Deposit

When you are ready to prepare a deposit:

Open the Bank Center.
Search for and open the Bank to which the money is to be deposited.
Click Actions > New Deposit. The Bank Deposit form opens. See the Bank Deposit Sections drop-down later in this topic for details about this form.
If applicable, select the name(s) of employee(s) whose receipts you want to include on the deposit.
Review the Receipts Available for Deposit section. Delete receipts not being deposited (post-dated checks, receipts not available to person compiling the deposit).

Deleted receipts are returned to the available list the next time New Deposit is accessed for this bank.

Verify that the total of the items being sent to the bank agrees with the Total Deposit amount.
If applicable, click the Additional Receipts link to view and/or include other receipts. The Additional Receipts for Deposit form opens.
When you are ready to post the deposit, click Post.

Bank Deposit Sections

Deposit Information

Field/Option	What is this?
GL Date	The current system date defaults, but can be changed to match the actual date the money is taken to the bank.
Deposit Description	The default description is Bank Deposit but may be changed. Example: Trust Money Mkt Deposit
Include Receipts Posted By	Select the name of employee(s) whose receipts you want to include on a deposit, or select All. This field provides the basis for your Receipts Available for Deposit grid. Filter for specific employees' receipts if it benefits your workflow; alternately, select All to include all open receipts for this bank. The first time you access this form, the selection default is All. Subsequently, the default is your (the logged-in user's) most recent selection. To include multiple employee names, choose Select Multiple.... The Include Receipts Posted By selection form opens. The function of this form is similar to the Multi Select option found throughout the system. The multi-select option is useful if your agency has more than one employee managing receipts for the same bank. For example, perhaps one employee manages payments for personal lines business, and another employee manages commercial lines payments. After you click Create Deposit, this becomes a view-only field.
Checks	All field totals are 0.00 until you click Create Deposit. These fields are view-only. They represent the total dollar amounts of various types of receipts, based on the types selected when the receipts were posted. This information changes as items are deleted from the deposit. If a receipt was posted with the wrong Type, it cannot be changed here. The only option is to Void the Receipt at the source and re-enter it with the correct type.
Cash
Credit Cards
Debit Cards
Total Deposit	This field total is 0.00 until you click Create Deposit. This field is view-only. It represents the total of all the categories of receipts. It is important to make sure this amount agrees with the total of the items being taken to the bank
Create Deposit	Click this button to gather the applicable receipts. The Receipts Available for Deposit grid appears; each receipt appears as a row.

Receipts Available for Deposit

Once you have entered Deposit Information data, click the Create Deposit button. The Receipts Available for Deposit grid appears. Each receipt is a row in the grid.

The following actions are available to you for working with receipts in the grid:

Delete receipt from grid: If a receipted item is not yet ready for deposit (post-dated check, check not available when preparing deposit), select the row and click Delete in the grid header. This removes the receipt from the current deposit. Note that deleted items are not removed from the Bank Center; they will be available to a future deposit for this bank.
Move receipt from grid to a different bank: If a receipt in the grid has been applied to the current bank in error, you can move it to another bank by clicking the Move link. Receipt items containing other data entry errors must be Voided in the center where the receipt entry originated to make them unavailable to the deposit build process.
Include Additional Receipts: Click the Additional Receipts link to open the Additional Receipts for Deposit form. Look for additional existing receipts to include in this deposit.
Create and Include New Receipt: Click the New Receipts link to open a blank Receipt form. Create and include a new receipt on this deposit.

Receipts Available for Deposit

What is this?

Additional Receipts

Click this link to open the Additional Receipts for Deposit form.

Use this form to examine receipts outside of the current deposit criteria prior to posting. Additional Receipts for Deposit also provides you with the opportunity to include these receipts on the current deposit.

Additional Receipts for Deposit is particularly helpful when the total of your agency's hard copy receipts doesn't match the system total: use this form to catch receipts that were entered since you created the Bank Deposit, and therefore did not appear in the grid; or use it to distinguish receipt data entry errors, such as incorrect bank assignment.

Refresh

Click this button to display all receipts that are not currently part of a posted or unposted deposit. This includes receipts added in centers since the deposit was initiated, or receipts previously deleted.

Click Refresh to validate that all receipts entered in the system are being included in the deposit for this bank. If items have been intentionally deleted, do not Refresh after such deletions are made.

New Receipts

Click this link to open a blank Receipt data entry form. Create and post a new receipt to include on your deposit.

Refer to the Batch Receipts drop-down later in this topic for more information.

Grid Elements

Grid Elements	What is this?
Move	Opens the Move Receipt form so you can select another bank for the receipt.
Void	Opens the Receipt Void form for you to enter the reason for the void and post.
Type	This is the Receipt Payment Type. Cash Check Credit Card Debit Card
From	Indicates the payor source: Insured Employee Broker Fee Company Finance Company Insurance Company Brokerage Company Other Vendor
Name	Payor name information as entered on the receipt.
Posted By	Name of logged-in employee who posted the receipt.
Amount	Total amount of the receipt.
Bank #	Bank site number information. This is available if entered on the receipt.
Check #	Payor's check number. This is available if entered on the receipt. This is not available if the receipt was cash, credit or debit card.
Reference #	This is the system assigned tracking number. Displays as a link. Click to open the View Receipt form displaying the posted receipt in view mode.

Saving an Unposted Deposit

If, for any reason, after you create the deposit and begin reviewing items, you need to close the deposit before posting, click File > Save and Close. To re-open the deposit and continue working:

Open the Bank Center.
Search for and open the Bank containing the saved deposit.
Click the Deposits tab.
Click the link in the GL Date column for the unposted deposit. The deposit form opens in an edit mode.
To verify that you have the most up-to-date receipt information, click the Additional Receipts link to access the Additional Receipts for Deposit form. Use this form to add any other desired receipts to the deposit.
When you are ready, post as normal

File Menu Options

Complete the sections of the Bank Deposit form, then click the File menu at the top of the form and select one of the following options, or click the corresponding icon on the toolbar.

Menu Option	Icon	Uses
Post		Posts the deposit to the system. Closes the form when posting complete.
Post and Print		Posts the deposit to the system and immediately prints a copy to your workstation's default printer.
Save		Saves the deposit in an unposted state. The Deposit form remains open.
Save and Close		Saves the deposit in an unposted state and closes the Deposit form.
Delete		Deletes an unposted deposit. Items are again available to be added to another deposit. Example You begin a deposit and decide there are an insufficient number of items to make it worth the trip to the bank. You can delete the deposit and rebuild it whenever you decide a bank trip is necessary.

Batch Receipting

In preparing a deposit, additional receipts may need to be added to those entered in the centers. These receipts may be last minute additions to the deposit or may represent an agency work flow in which receipts are controlled in a separate accounting department. AMS360 provides a batch receipting method to facilitate this type of data entry.

How to Batch Receipt

Batch Receipt Selections

What is this?

Date

Using the Date Picker, enter or select the Date you want the receipt to post to the general ledger. The current system date defaults.

Amount

Enter the total Amount of the receipt.

Description

Enter a Description for the receipt. Based on the Receipt Type selected, the appropriate Default Descriptions fill the Description field, but can be changed.

Deposit to Bank

This field is inactive and defaults to the bank associated with your current deposit. This cannot be changed.

Received From

The selection you make from the available list determines the voucher sections that display. Refer to the Receipt Sectionsdrop-down of theReceipts topic for more information.

Name

Based on the Received From selection.

Received From	Name	Received From	Name
Broker	List of active brokers from the Broker Center.	Insurance Company	List of active insurance companies from the Company Center.
Brokerage Company	List of active brokerage companies from the Company Center.	Insured	Key in a few letters of the insured's name, click Search to open the Customer Search form. Search for and select the customer to return the name to the Name box.
Employee	List of active employees from the Employee Center.	Other	Name field allows you to type in the desired name.
Fee Company	List of active fee companies from the Company Center.	Vendor	List of active vendors from the Vendor Center.
Finance Company	List of active finance companies from the Company Center.

Type

Select the Receipt Type (check, cash, credit card, electronic transfer, or debit card). The default selection is Check.

When the Receipt Type is check, enter the Bank #, and Check #, if desired.

Remaining to Apply

The Remaining to Apply is a calculated field. It is the difference between the Amount field, and what is currently applied to the voucher sections.

The receipt cannot be posted until the Remaining to Apply is zero.

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