Propertyware Knowledge Base

Bank Deposits allow you to group payments by a bank account, create a deposit slip, and record the date when the money was deposited at your bank. Once tenant payments, other income, and owner contributions have been included in a Bank Deposit and marked as closed, they are eligible for reconciliation and transfer to QuickBooks.

The following is a brief overview of how income is received and deposited in Propertyware:

1. Open Bank Deposits - An Open Bank Deposit is a group of payments, whether tenant payments, income from other customers or owner contributions, which have not yet been deposited to a bank account. In Propertyware, all payments must be deposited to an Open Bank Deposit or to Payments To Deposit.
   
   
2. Closed Bank Deposits - A Closed Bank Deposit signifies a deposit that was closed once after payments included therein, whether tenant payments, other income or owner contributions, were deposited at the bank. A Closed Bank Deposit will document the details of the deposit, including any cash back.
   
   
3. Payments To Deposit - Payments To Deposit is a virtual account that holds all payments received that have not yet been added to an Open Bank Deposit for a specific bank account. These funds may be added to an existing Open Bank Deposit or alternatively, included within a newly created deposit.
   

Help Topic Navigation

• Open Bank Deposits
• Creating Additional Bank Deposits
• Editing an Open Bank Deposit
• Closing Bank Deposits
• Printing Bank Deposit Slips
• Remove Payments from a Bank Deposit
• Deleting Bank Deposits
  
  
  

Open Bank Deposits

Propertyware automatically creates an Open Bank Deposit for each bank account in your Chart of Accounts. An Open Bank Deposit is a grouping of tenant payments, income from other customers, and owner contributions that have not been deposited to your bank. We recommend that all payments be deposited to an Open Bank Deposit or to Undeposited (these payments can be found in the Payments To Deposit section of the Money In tab).

To view an Open Bank Deposit:

1. Click the Banking Tab located at the top of any page in the application.
   
   
2. Click the Bank Deposit button from the sub-navigation bar that appears below the green Money In header section.
   
   
3. Click the Open Deposits Tab from the table on this page. This table displays all the open bank deposits with the following information:

To view the details of any Open Bank Deposit, click the link that appears in the Name column.

Back to Top

Creating Additional Bank Deposits

To create an additional bank deposit for any bank account:

1. Click the Banking Tab located at the top of any page in the application.
   
   
2. Click the Bank Deposit button from the sub-navigation bar that appears below the green Money In page header.
   
   
3. Click the Open Deposits Tab from the table on this page.
   
   
4. Click the New Bank Deposit button from the top of the page.
   
   
5. The next page will allow you to search through the payments in Payments To Deposit to add them to the selected open bank deposit. Use the portfolio, month, and year filters at the top of the page to help you find the exact payments you would like to add to the deposit.
   
   
6. To select a payment from Payments To Deposit to include in your open bank deposit, click the checkbox(s) at the beginning of the row(s).
   
   
7. Select the Bank Account at the bottom of the page.
   
   
8. Enter any comments for the deposit.
   
   
9. Click the Save button at the top of the page.
   
   
10. You will return to the detail screen for your open bank deposit and see the payments included from Payments To Deposit.

Back to Top

Editing an Open Bank Deposit

To remove a payment included in an Open Bank Deposit:

1. Click the Banking tab located at the top of any page in the application.
   
   
2. Click the Bank Deposit button from the sub-navigation bar that appears below the green Money In header section.
   
   
3. Click the Open Deposits tab from the table on this page. This table displays all of the open bank deposits.
   
   
4. To view the details of any open bank deposit, click the link that appears in the Name column.
   
   
5. Locate the appropriate payment in the Included Payments table. Click the Remove link in the Action column to remove the payment from the open bank deposit and put it into Payments To Deposit.
   

To move the payments included in the Payments To Deposit to an open bank deposit:

1. Click the Banking tab located at the top of any page in the application.
   
   
2. Click the Bank Deposit button from the sub-navigation bar that appears below the green Money In header section.
   
   
3. Click the Open Deposits tab from the table on this page. This table displays all the open bank deposits.
   
   
4. To view the details of any open bank deposit, click the link that appears in the Name column.
   
   
5. From the bank deposit detail page, click the Edit button that appears at the top of the page.
   
   
6. The next page will allow you to search through the payments in Payments To Deposit to add them to the selected open bank deposit. Use the portfolio, month, and year filters at the top of the page below the Add/Remove Undeposited Payments header.
   
   
7. To select a payment from Payments To Deposit to include in your open bank deposit, click the checkboxes at the beginning of the row(s) and click the Save button at the top of the page.
   
   
8. You will return to the detail screen for your open bank deposit and see the payments included from Payments To Deposit.

Back to Top

Closing Bank Deposits

An Open Bank Deposit must be closed once payments included within that deposit have been taken to the bank for deposit. To close an Open Bank Deposit:

1. Click the Banking tab located at the top of any page in the application.
   
   
2. Click the Bank Deposits button from the sub-navigation bar that appears directly below the green Money In page header.
   
   
3. Click the Open Deposits tab from the table.
   
   
4. Select the appropriate open bank deposit by clicking either the name link in the Name column OR the View link in the Action column for the line item.
   
   
5. Click the Close Deposit button from the bank deposit detail screen.
   
   
6. The page will then refresh to display the following additional data fields:
   
• Cash Back. (Optional) If you are getting cash back from your deposit, fill in the cash back fields. This will create a transfer in the amount entered to the designated account once the bank deposit gets transferred to QuickBooks. 
  
• Cash back goes to. Choose the account where you want the cash back amount to go, such as your Petty Cash account. Every Propertyware account has a Petty Cash account that cannot be deleted
  
• Cash back memo. Enter a brief memo about the cash back transfer and amount.
  
• Cash back amount. Enter the amount you want to get back from this bank deposit.
  
• Deposit Date (Required field) -- Enter the date the deposit was taken to the bank for deposit.
  
  
7. Click the Save button. Once the bank deposit has been closed the name of the deposit will change to the following naming convention: CLOSED + ACCOUNT CODE + DATE CLOSED. Further, you now have the option to attach documents. To attach a scanned copy of the deposit receipt received from your bank, for purposes of reconciliation and good bookkeeping:
   
• Select the file. Locate the file on your computer that you would like to upload as an attachment. To do this, click the Attach Document and then the Browse button to locate the appropriate file(s).
• Highlight the desired file and click Open.
• Click the Upload button to begin the transfer of the file.
• You must wait until the progress meter has reached 100% before clicking the Close Window button.
• Your document will now appear on the bank deposit. To modify the properties of this document click the Edit Document Properties button.

• Select all deposits to be closed using the checkbox located to the left hand side of the deposit.
• Click the Close Selected Deposits button at the bottom of the page.
  

Printing Bank Deposit Slips

You may print out a list of information about an open deposit for your records or to take to the bank. Just follow these directions:

1. Click the Banking tab located at the top of any page in the application.
   
   
2. Click the Bank Deposits button from the sub navigation.
   
   
3. Click the Closed Deposits tab from the table on this page.
   
   
4. Click the View link that appears in the Action column for the deposit you would like to print. 
   
   
5. A view screen will appear with a summary of the items you have included in your bank deposit. In this screen, click Print Deposit Ticket, which opens a pop-up window with the deposit ticket image.
   
6. In the pop-up window, click the printer icon to print the deposit ticket.
   

Back to Top

Remove Payments from a Bank Deposit

Payments recorded on leases or other customers that have been included in an open bank deposit can be modified be following these steps:

1. Locate the lease containing the desired payment by using the Search tool or by browsing for it in the Leases module.
   
   
2. Locate the payment you would like to remove from the bank deposit by locating it on the appropriate Tenant Ledger.
   
   
3. Click the View button from the Action column on the Tenant Ledger on the appropriate payment.
   
   
4. A window will appear with the details for the recorded payment. Click the link that appears in the Deposit To field. This link will take you to the deposit for which the payment was included. From there you will be able to remove the payment you just viewed.
   
   
5. Locate the appropriate payment from the bank deposit detail screen. Click the Remove button to exclude it from the bank deposit. Removed payments will be placed in the Undeposited items list.

Once you have removed the payment from the Bank Deposit, you may modify/delete the payment from the Tenant Ledger for the associated lease.

Deleting Bank Deposits

Propertyware allows you to delete both open and closed bank deposits. In both scenarios, when the bank deposit gets deleted, all the included payments get moved to Payments To Deposit. To delete a bank deposit:

1. Click the Banking tab located at the top of any page in the application.
   
   
2. Click the Bank Deposits tab from the sub-navigation that appears below the green Money In header section.
   
   
3. Locate the appropriate bank deposit from the Open or Closed  Deposits tab from the table on this page.
   
   
4. If you would like to delete an open bank deposit, click the Del link that appears in the Action column. This action cannot be undone.
   
   
5. If you are looking to delete a closed bank deposit, you will first need to click the View button in the Action column to reopen the bank deposit from it’s detail screen. If the bank deposit has been reconciled, you will need to first delete the reconciliation for which the bank deposit was included before reopening and deleting it. Otherwise, the reopened bank deposit will now offer a Delete button from the detail screen.
   
   
6. A window will appear asking you to confirm the deletion. Click the OK button.
   
   
7. The value in the # Payments column will change to zero, since all the included payments have been moved to Payments To Deposit.

Back to Top