Fixing Bank Deposits

Correcting a bank deposit is supported within the software to assist in fixing any deposit mistakes. You are able to move a deposit from one bank ledger to a different bank ledger, edit the deposit date, or undo a deposit entirely to correct individual transactions. 

To Locate a Deposit

In your Rentec Direct account: 

  1. Click Banking.
    1. To see an individual deposit:  
      1. Enter the bank ledger where you deposited the funds.
      2. Click the View Deposit icon on that transaction.
    2. To see a list of all deposits:
      1. Enter the Undeposited Funds ledger. 
      2. Click the View Deposits button.
      3. Click on the deposit you wish to view.

Once your deposit is open you will see a summary of the account and amount; it will look similar to the following screenshot. On this View Deposit screen, there are two corrective actions you can take: modify the bank account or change the deposit date. 

Modify the Bank Account and Deposit Date

If a deposit is accidentally posted to the wrong bank ledger in the software, you can quickly change the account to any other account in the system. You will also be able to edit the deposit date in the event the date of deposit needs correction. 

  1. Click the word [change] next to the bank account name and an Edit Deposit Account window will open. 
  2. Modify the deposit date and/or use the deposit account drop-down list to choose the correct bank ledger where the funds were physically deposited. 
  3. Click the Save Changes button.

Undo a Bank Deposit

For other errors, you have the ability to undo the deposit. Undoing a deposit allows you to make corrections to individual transactions. 

In your Rentec Direct account

  1. From the same View Deposit screen, it is advised to click on the Show Summary Only or Print Deposit Slip link to save the current deposit information.

    Important NoteThis information is helpful for recreating the deposit after transactions have been corrected. 
  2. After saving the deposit details, click on the word [undo].
  3. An Undo Deposit window will open with this warning: This will remove the deposit entry and place the funds back into the original 'Undeposited Funds' account. Click on the Undo Deposit button if you agree to this action. 

After you have completed any necessary edits to individual transactions, you will be able to use the saved summary or deposit slip to recreate the original deposit. 

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