Adjusting the "Cash to be deposited" account

Question

Hello, 
 
 I made a mistake with a deposit. I use the "cash to be deposited account" so that my transaction into the bank matches my bank statement. I followed the instructions to reverse the deposit slip and I re did another one with the corrected information. 
 But now I have a negative balance in my "cash to be deposited" account and I can not adjust that account through with a journal entry. 
 How do I bring my cash to be deposited account back to zero?

Agate · Accepted Answer

FordMTL: 
 Your issue has to do with your G/L account. Go to your chart of accounts in Company and open your 1020 account, then go to the Class Options tab and change the Account Class box to Bank. This should unlock the account. 
 If you voided the payments, you will need to enter those payments again to restore your balances to the actual numbers. 
 With Sage 50 Deposit slips generally you are basically just transferring your cash, cheques to be deposited items from the "Cash to be deposited" account to your " Bank account" to avoid having multiple lines in your "Bank account" because the deposit is generally one line on your bank statement. 
 Hope this helps!

Agate · Answer

FordMTL: 
 Eventhough the Cash to be deposited account is linked, entries can be made to this account. If a Deposit slip has been created, then it is saved and posted for eternity, unless it is cleared manually or by restrictions put into the product you are using. Deposit slips will not be removed if you change the account, they stay as they were posted. 
 I hope I answered your question, if not let me know and explain with more details!

Agate · Answer

Hi FordMTL: 
 To have a negative balance in the Cash to be deposited account can only occur by journal entry, a deposit slip entry or a posting through payables or receivables using the Cash to be deposited account. To adjust the cash to be deposited account just make a journal entry to clear the account. 
 Hope this helps!

Sage 50 Canada

Adjusting the "Cash to be deposited" account

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