Bank Deposit

In NetSuite, the Make Deposit function records deposits into a bank account, allowing users to log incoming funds from various sources such as customer payments, refunds, or other types of cash inflows. This function helps keep bank account balances accurate and provides a clear record of deposits for reconciliation.

Key Aspects of Make Deposit:

1. Bank Account Selection: Choose the bank account where the deposit is being made.
2. Deposit Funds: Add funds from different sources, such as customer payments, refunds, or miscellaneous income. You can select transactions or manually enter amounts.
3. Deposit Date and Memo: Set the deposit date, and optionally add a memo for easy reference.
4. Apply Undeposited Funds: If using the Undeposited Funds account, NetSuite allows you to bundle multiple payments or checks and deposit them as a single transaction.
5. Fees and Adjustments: Record any bank fees or adjustments directly in the deposit to reflect the actual bank deposit amount accurately.

Using Make Deposit in NetSuite helps streamline cash management, ensuring all income sources are properly logged and bank reconciliations are simplified.