You created a deposit slip and noticed that it has been canceled or disappeared — the checks you already deposited now appear in the list of checks pending deposit. There are two possible reasons for this.
- The deposit slip was deleted
- You deleted or edited a check linked to the deposit slip
- What should you do if your deposit slip was canceled?
The deposit slip was deleted
If checks you already deposited are back in the pending deposit list, it may simply be because the deposit slip was deleted by one of your organization's Administrators.
You deleted or edited a check linked to the deposit slip
When you deposit checks at the bank, a deposit slip entry is automatically created. Its amount is calculated automatically based on the total value of the checks. For example, a deposit slip containing two checks of $50 and $60 will have a total of $110.
If you edit or delete one of the checks linked to a deposit slip, the deposit slip will be deleted to prevent any accounting inconsistency.
There are 4 types of changes to linked checks that can cancel a deposit slip:
- Deleting one of the checks already deposited;
- Changing the amount of one of the checks already deposited;
- Changing the payment method on a payment entry;
- Deleting the transaction (accrual entry) linked to a check payment entry.
When you edit any element of a check that has already been deposited, the system will warn you that the related deposit slip entry will be canceled.
Please note: if a deposit slip had already been reconciled, canceling it will also undo the validation of the bank reconciliation statement.
What should you do if your deposit slip was canceled?
Your deposit slip was canceled for one of the reasons listed above. If you haven't closed your accounting period in the meantime, you can create a new deposit slip dated on the original deposit date, as explained in our article: Depositing a Check at the Bank.
If your accounting period is already closed, you have two options:
- Reverse your accounting period closing. Be aware: this has implications for your accounting records;
- Record the check deposit on the opening date of the next open accounting period and point it on the statement for that same month.
Learn more:
Comments
0 comments
Article is closed for comments.