Transferring Funds to the Bank
Useful Information
When you are ready to take your cash and cheques to the bank, ensure you mirror this in SCO.
Either transfer all income Onhand in the bank account, or select individual cost centres to transfer to bank.
Transferring Funds to the Bank
Select the funds to bank by either:
Transfer all funds from within one bank account - click to place a tick in the box to the left of the bank account name at the top left of the bank account name e.g. Official account
Transfer individual cost centres – click to place a tick against the individual cost centres below the bank account name e.g. Dinner money
Review what is being banked in the To transfer column, cash and cheque totals will appear at the bottom of the screen in the yellow rows. These totals should match the actual amount being banked
Click Print if you wish to print the Payment details at this stage, or you can print them later
Click the Transfer to bank button at the bottom right
If all the money is banked on one paying in slip, follow section a. If it’s banked on multiple slips, follow section b
Tick the Use same deposit name for all box and type in a deposit name for the first deposit; this will group the deposits and they will appear as one lump sum on the bank statement
Enter a different deposit name for each cost centre. Each deposit will be listed on the bank statement as a separate entry
Click Done
Select how reports should display transactions in the bank deposit:
Report grouped by cost centre? and/or
Report listed by deposit name
Note: At least one of these options must be selected when transferring funds to the bank
Click Print to view the report/s
If both options were selected, the report will consist of two pages (by cost centre and by deposit).
When deposits are grouped by cost centre, any split cheques are marked with an * and the text *Part of a split cheque appears at the bottom of each page
If the option to group by cost centre was selected, the report displays all cost centres selected for transfer and includes:breakdown of cash and cheques for each cost centre
subtotal for each cost centre
total cash and cheques for all cost centres
total amount deposited
Close the report to return to the Banking screen, the funds will now be displayed in the Banked column
See also:
Banking Quick Reference Guide
See also:
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