Group payments into one bank deposit

Banks batch. Three cheques you take in on Tuesday arrive in your feed as one lump sum, so a payment posted straight to the bank can never match the line the bank actually shows.

Undeposited Funds is the fix. Receive the payments into it, then group them into the single deposit your bank made.

Open All pages in the left sidebar, then under Sales click Bank deposits.

Hold the payments first

When you record an invoice payment, set Deposit to to Undeposited Funds instead of a bank account. That means:

• The invoice is marked paid straight away.
• The money is booked as received but not yet in the bank, which is exactly true while the cheque is in your pocket.
• The payment waits here until you group it into a deposit.

Record the deposit

1. On the Undeposited tab, tick every payment that went in on the same slip.
2. Choose the account to Deposit to and set the Deposit date.
3. Add a Reference no. if your slip has one.
4. Check the running total matches the deposit your bank shows.
5. Click Record deposit.

This moves the money out of Undeposited Funds and into your bank account as one entry, which is exactly what the feed shows.

Match it to the bank feed

If the matching line is already in your feed, BooksGPT offers it under the total. Pick the one tagged Exact match and the button becomes Record and match.

Matching means the money is counted once, not twice. Without it you would have the deposit and the bank line both sitting on your books.

Good to know:

• The amounts must agree to the penny. A near miss is shown for context but cannot be selected.
• The Deposits tab lists everything you have recorded. Undo reverses one and puts the payments back in the undeposited list.

Updated on: 04/08/2026