Posting an Express Deposit - 20b

Purpose:  To post an express deposit using ctcLink.

Audience:  Accounts Receivable staff.

Marking payments for posting in ctcLink will update the Receivables system with miscellaneous payments that are received through express deposits. After they are posted,  it updates the corresponding customer accounts in the ctcLink Receivables system.

Posting an Express Deposit

Navigation:  Accounts Receivable > Payments > Online Payments > Express Deposit

You are now on the Express Deposit search page.  Enter as much search criteria as you like.

  1. Select the Deposit Unit field if not auto-populated.
  2. Select the Deposit ID field and enter the desired information.
  3. Select the Search button.
Express Deposit Search Page.

Use the Totals page to enter information and control totals for a new deposit.

  • Use the Accounting Date field to enter the accounting date for each payment and for all pending items created from the payment. You can override the date on the Regular Deposit - Payments page. The system validates the accounting date to make sure it falls within the open period for the business unit and transaction type as defined on the Open Period page for the business unit.
  • Use the Deposit Type field to specify the code for the payments for which the deposit is made.
  • Use the Control fields to enter the control totals for the amount and count of the payments in this deposit. You can have a zero-total deposit if the payment amounts offset each other.
  • Use the Received field to enter the date when either the bank or your company received the payment. Because of normal processing delays, the Received date may be different from the Entered date.
  1. Select the Payments tab.

Use the Payments page to enter and apply payments with item IDs in a deposit after you enter the deposit control totals.

  • The Deposit Balanced field displays the deposit status; when the amount total and number of entered payments equals the control amount and count from the Totals page, the status changes from No to Yes.
  • You can update payment information only for deposits that have been reconciled with a bank statement.
  1. Select the Action tab.

Use the Action page to post a deposit (provided that you entered and saved payments on the Payments page), review accounting entries, create worksheets for incompletely applied payments, clear worksheets, or permanently delete the entire deposit so you can start over.

  • The Deposit Balance field displays the status for the deposit. It must be balanced before you can set the deposit to post.
  • The Status field displays the posting action for the deposit. Values are No Action (deposit not ready to post) or Standard (deposit has been set to post).

You can perform a worksheet action:

  • Build: Select to create one worksheet for every payment in the deposit. The system indicates the number of worksheets created and the Delete button becomes active.
  • Delete: Select to delete the payment group that was created without deleting the entire deposit. If you accidentally select the wrong action, select Delete Worksheet on the Worksheet Action page to delete the worksheets, but retain the express deposit information that you entered.

Select the Create Entries button to create accounting entries online for all applied payments in the deposit, as long as the deposit is in balance. The system accesses the Accounting Entries page where you can review and modify accounting entries. The payment status is set to Worksheet. You must return to the Action page to set the group to post.

Normally you let the Receivables Update process create accounting entries. You only need to create accounting entries online when you must review them right away.

Select the Delete Express Deposit button to delete the entire deposit. If you entered and saved payments on the Payments page, use this option only if you want to permanently delete the entire deposit.

  1. Select the Batch Standard button.  
  2. Select the Save button.

In summary, posting the express deposit creates the corresponding accounting entry and updates customer balances in the ctcLink Receivables system.

Action Tab

You have successfully completed the procedure for posting an express deposit.

End of the Procedure.

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