People may find using deposit slip is a little bit confusing in Sage 50 due to the following situation when they look at the bank reconciliation window.

As you can see, there are 2 deposit slips. One is acting strange because it has balance on both the deposits and the withdrawals column. On top of that, the balance in the deposits column is a double of the withdrawal balance. The other deposit slip is acting the way that most of us think it should be as it only has a deposit balance.

Why does it happen? What is the difference between the first and the second deposit slips?

When you look at the next screen shot, it will be easier to understand.

After placing a check mark to the box of ‘Show Deposit Slip Details’, the first deposit slip is expanded with more information. The first entry of that problematic deposit is actually the receipt which credit the A/R account and debit the bank account. The second and third entries belong to the actual deposit slip but using the same bank account for ‘Deposit To’ and ‘Deposit From’ account. Since the same bank account is used, you see both the deposit and withdrawal balance showing in the bank reconciliation, which offset each other.

In order to avoid this kind of confusion, the best way is to think of how you actually make a deposit in real life before you input it in Sage 50.

On my next blog post, I will use Sage 50 to mimic the real life situation of making a deposit slip.   Stay tuned.