Intermediate deposit account for H&B,RPM (a.k.a.
When you receive
multiple payments by check per day but only make one summary deposit to your
- Create a cash (or
manual checking [*]) account, named something like "Checks to
Deposit" with an Opening Balance of $0.00
- When filling out
the New Customer Payment form, deposit the check to "Checks to
Deposit" instead of your regular bank checking account.
- At the end of the
day, tally up all checks on your deposit slip. In Quicken, in the "Checks
to Deposit" account make a transfer transaction "Daily Deposits"
in the amount of your deposit slip. Put the amount into the Payment column. As
category choose your checking account, surrounded by [square brackets], e.g.
[ABC Bank Checking]. Verify that this reduces the balance in the "Checks
to Deposit" account back to zero (or you have made a mistake somewhere
along the way).
[*] During the Add Account dialog, choose a checking account and, on the next
screen, click on the words "Advanced Setup" then finally choose
"I want to enter transactions manually".