Deposits

Deposits Overview

Deposits made to your bank accounts are entered in the Deposit window.  It allows you to credit one deposit to as many different income accounts as necessary.  For instance, you may receive a payment from a packer for a crop harvested from three different cost centers, so you would need to enter a separate line for each cost center to credit the income to each one.

The Deposit window can also be used to enter any other credits to your bank account, for example interest payments.  Just use the appropriate account for the income to be posted to (in this example, Interest Income).

The layout of the Deposit window is similar to the Direct Expense check entry window, so once you are learn how to enter checks, you'll be able to enter deposits as well.

From the Checkbook Register window, click Deposit. 

Account # /Name Key

Each packer, shipper, or buyer that you receive crop income should be set up with a vendor account. Enter the account number or name key for the vendor for this deposit.  On either of these two fields, you can press [F4] or click on the lookup buttons to open the vendor account lookup window.

Bank #

This is the bank account that is currently selected.  You can click on the Bank # entry, or press [Ctrl]+[B] to activate it.  The bank account number that is displayed in the Checkbook Register window will appear here automatically.

Advanced uses may wish to change the bank account number here, however note that the Checkbook Register will continue to display information from the original bank account.  That means that as you enter checks, you will not be able to see updates on the Checkbook Register. 

The recommended method is to change the bank account displayed in the Checkbook Window, then click on the Expense Check button to reopen the Direct Expense Check window with the new bank account.

Name

If you do not select a vendor account, you can type in the name the money was received from.  Otherwise the vendor's name will appear here automatically.

Deposit #

A deposit number will be assigned to every entry you make automatically.  If you are entering a new deposit, leave this entry blank.

If you want to edit an existing deposit entry, you can press [F4] or click on the lookup button to get a list of deposit numbers.  (If you already know the deposit number, you can type it in and press [F9] to edit it.)

Deposit Date

Today's date will appear here automatically on your first entry.  If you change the deposit date, this date will be retained for subsequent entries.

Description

Deposit Total

Enter the amount of the deposit here.

Acreage Split

Acreage Split Overview

This feature allows you to split a deposit amongst multiple cost centers. When you click Acreage Split, the following window will open: 

Save Deposit

Click here to save the transaction.

Deposit Line Item Entry

Every deposit will have one or more line items.  This is where you tell The Farmer's Office which income accounts and cost centers you want to credit the income to. Some systems also refer to this as the detail portion of the check. 

As you enter the information on the line items, the description for the general ledger account, cost center, and job code will appear in the boxes at the bottom left. The total of lines will also be displayed to the right, as well as the difference between the check total and the total of the line items.  Before you can complete a deposit entry, the line items must balance with the deposit total.

On each line item you will enter the following information:

Cost ID

If this is a direct crop expense, enter the cost center to credit this line item to.  Press [F4] to get a lookup of cost centers.

Year

This is the crop year to credit this line item to.  The crop year will appear automatically for you if a default crop year has been entered either in the system file or on the cost center itself.

Job

This is used as a subcategory for cost accounting reports.  If you are not using subcategories, then this column will not appear.  Depending on your settings, this may have a different heading (such as Operation, Phase, or Activity).  You can press [F4] for a lookup of job codes.

G/L #

If you entered a default general ledger account for the vendor on this deposit, that G/L # will be entered automatically here.  You can change it if necessary.

Press [F4] to get a lookup list of general ledger accounts.

Description

Enter a description here for the general ledger transaction.  For example, "First payment, 2000 crop".

Units

If applicable, enter the units here.  For example, if you are receiving a fixed price per ton for your crop, you can enter the number of tons here.

Type

Enter the unit type, if applicable.  This could be tons, pounds, bales, CWT, etc.

Rate

If applicable, enter the rate per unit here.  This entry is optional, check your program setup to see if it is enabled.  If you enter both the units and the rate, they will be multiplied out and the result will appear in the Amount column.

Amount

The amount will default to the difference between the total of the line items and the deposit total.  (Unless you enter both the units and rate.)

In other words, on the first line item you enter, the amount will default to the deposit total.  In many cases, deposits only have one line item, and so this saves you from typing in the check total again.

However, if you will be splitting up the amount into separate line items, simply type in the amount for this line item and it will replace the amount that is already there.  On the last line item, the amount should be correct.

Once the line items balance with the deposit total, the Save button will automatically be highlighted.  Press [Enter] or [Space] to save the deposit and clear the window for another entry.