For years I’ve had Microsoft Dynamics GP customers ask me if there was a way to automatically batch deposit cash receipts to a lump sum deposit in Bank Reconciliation bypassing the Bank Deposit Step when posting cash receipts. Unfortunately for years, my answer to this question has been no but thanks to a new feature that was introduced in Dynamics GP 2016 I can now say yes.
Unlike the options that were in available in previous versions of Dynamics GP that would allow you to deposit individual deposits in Bank Reconciliation this new version allows you to do lump sum deposits. Now all your cash receipts that are in the same batch will post to Bank Reconciliation as one lump sum deposit. However if you transaction level post then each transaction you post will create a separate deposit.
If you are on Dynamics GP 2016 and want to turn on this new functionality simply go to Company Setup Options and mark the “Automatically post cash receipt deposits” option. Once you have the option marked all payments that are entered in The Cash Receipts Entry, Receivables Transaction Entry, Sales Transaction Entry, Invoice Entry and return documents in Payables Transaction Entry will post directly to the Bank Reconciliation window and will update the checkbook balance. From the Bank Reconciliation window, you still have the drill back capability to view all the cash receipt transactions that make up the deposit.
Contact Massey Consulting if you have questions about this new feature or need help setting it up.