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Undeposited Funds

Hello,

I am looking for a function where all the customer deposits are received in a temporary ledger called Undeposited Receipts and then they are transferred to the Bank Account upon confirmation from the Bank / Payment Processors.

This practice is undertaken since there is a gap between the payment intimation and the payment realization. Only the realized payments are transferred to the Bank Account to see fund level in a bank account. 

Is there any similar / alternate way of handling this situation in ERPNext?

Thanks in advance,

Sarang





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On 19-Aug-2014, at 1:39 pm, Sarang <sa...@gmail.com> wrote:

Hello,

I am looking for a function where all the customer deposits are received in a temporary ledger called Undeposited Receipts and then they are transferred to the Bank Account upon confirmation from the Bank / Payment Processors.

This practice is undertaken since there is a gap between the payment intimation and the payment realization. Only the realized payments are transferred to the Bank Account to see fund level in a bank account. 

Is there any similar / alternate way of handling this situation in ERPNext?

As a work around, You can save the journal vouchers, but only submit them once you see the money in your bank.

But yes, its a good feature to have - pls add it to GitHub Issues


Thanks in advance,

Sarang






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Sorry to revive old thread, but really needing something like this. Issue with leaving in draft until deposited is that payment has only 1 date which:

  • if use date deposited, makes it appear customer paid late
  • if use date customer paid, does not match bank statement making it hard to reconcile

Currently registering deposits to a generic Undeposited Funds account and doing Journal Entry with deposit amount from that account to bank on day deposited. We spend a lot of time trying to find checks may have been misplaced when Undeposited Funds account does not go to 0 with deposit.

Need a way the payment entry can be linked one level deeper so can go from payment entry transaction through undeposited funds to bank account (with individual dates for each activity) and in reverse from bank account through undeposited funds to payment entry. This should allow easy query for undeposited payments in the undeposited funds account.

Any suggestions on how to do?