How to group customer receipts into a bank deposit

A payment receipt batch groups recorded customer payments that will be deposited together. Accounts receivable can compare the batch with the checks or other remittances in hand, and finance can post one deposit to the selected cash account. Creating a batch is preparation; it does not mean the bank has received or cleared the money.

Prepare the receipts and deposit

Use the correct entity and an account with Accounts Receivable Full Access. Confirm that each customer receipt has been recorded and that its amount, currency, payment reference, and invoice application agree with the remittance. Decide which receipts belong on the same physical or electronic deposit. Keep different currencies in their appropriate batches; the batch is created with a currency and the available receipt choices are filtered by currency.

Open Invoices > Receipt Batches > Undeposited Funds. Set the report dates and, if useful, select Unassigned Transactions Only. Compare the unbatched receipts with the deposit slip or processor settlement. If a payment is missing or incorrect, correct that payment before depositing the batch.

Create and fill the batch

1. From Undeposited Funds, choose New Batch, or open Invoices > Receipt Batches > List Batches and choose Create New Batch. Enter an identifier that your team can match to the deposit record, select the currency, and choose Create.
2. For each eligible unbatched receipt, select the batch beside the receipt and choose Assign. When entering a new payment, your workflow may also offer a Receipt Batch choice. Check the resulting batch before relying on that selection.
3. Open the batch from List Batches. Review the receipt dates, customers, payment references, and total against the remittances to be deposited. Before deposit, you can choose another batch in the receipt's Batch Reassignment column and select Update; check the total again afterward.

A batch may include eligible undeposited accounting transactions in addition to ordinary customer receipts. If a reversed receipt or reversal appears, check both the batch total and the Undeposited Funds report. The entity's Include Reversed Payments in Payment Receipt Batch setting affects whether reversed payments remain in a batch and how its total is calculated. Ask finance to resolve any difference before posting.

Post and confirm the deposit

1. After the physical deposit or settlement details are confirmed, open the batch, enter the Effective Date, and select the Deposit to cash account.
2. Choose Deposit. Versa posts a deposit accounting transaction for the batch. Return to List Batches and reopen the batch to confirm its deposited date, account, total, and linked accounting transaction.
3. During bank reconciliation, match the bank statement to the posted batch. The posted batch does not itself prove that the bank accepted or cleared the deposit.

If a payment must be reversed after its batch is deposited, the receipt page warns that the batch posting may require a separate manual adjustment. Have finance review the deposit and reconciliation before correcting it. For the wider bank process, see Reconciliation of Bank Accounts.

If a receipt or batch is missing

Check the selected entity, the Undeposited Funds report dates, and whether Unassigned Transactions Only is selected. Confirm that the receipt uses the undeposited-funds account and that the batch currency matches it. A deposited batch cannot accept more receipts. If the menu itself is missing, ask your administrator to check Accounts Receivable Full Access.