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Banking: Bank deposit slip with subtotals for cash and cheques

Started by Suzanne Vermeulen in Feature Requests | Idea

Hello Xero
The previous thread on this issue is now closed. Please advise when you expect to have the functionality of a deposit slip that can be printed in duplicate and taken to the bank with cash and cheques. We don't want to do allocations post-banking, we need to actually create the deposit slip first and preferably not manually either. That would be a massive backward step. It's nice to see a new product on the market but without this feature it is certainly not any different or better than anything else already there. Not at all beautiful, in fact decidedly ugly. Your response is appreciated. Thank you very much.
Suzanne you can already create a bank deposit slip! But it sounds like you’re wanting something a bit different?

Did you need a pre-printed form? Or does your bank require the deposit slip to have the total of each chq, not the invoice broken down?
 

Brittany H (Community Manager)

Hello Brittany
What we need is the exact same thing as MYOB's Undeposited Funds account: namely a printed deposit slip (on A4 paper) which contains all your bank details as well as the total amount of the deposit, broken up into cash and cheques, with a subtotal for each. Ie the whole thing is from the bank perspective- they don't need to know how we have allocated the monies but the system does. Does this provide a little more clarity? Being a brand new user there will be plenty more questions!
 

Suzanne Vermeulen

Hi Brittany,

Maybe I'm looking in the wrong place, but I can't find the bank deposit slip you mention above??

I guess Suzanne has found it and by the sound of her comments, its not what I was hoping for either. I'd like what Suzanne has requested, so this one gets my vote :).
 

Ray Taylor

I second this request. In the same way we can print checks, we need the ability to print deposit slips. The form factor is somewhat different is the US. A "Deposit Summary" is not the same as a deposit slip. By the way, I'm not sure what the usefulness of a "Deposit Summary" is. If you do provide deposit slips, we should have the ability to easily add payments that are paid and awaiting payment, and such deposit slips should appear in the reconcile list as an aggregate of payments. This is unlike a "Deposit Summary" which lacks these features.
 

Wayne Bailey

Thanks for the extra info here. Once a Batch Deposit has been created you can print the deposit slip to a PDF - but it doesn’t include a breakdown of cash and cheques. If this is something you need you may need to do separate deposits in Xero for invoices paid by cash, and invoices paid by cheque.
 

Brittany H (Community Manager)

Can the deposit slip be altered to include on the total value of the chq, and sort by customer name?
Issue 1
Currently if a customer pays multiple invoices via 1 chq, the deposit slip breaks this into Multiple Lines - the banks are refusing this as form of deposit slip. They only want to see the value of the chq, the chq payee and the chq #
Issue 2
Secondly the sorting on the deposit slip is via inv #, so when printing the deposit slip we sometimes have line 1 customer 1 chq 1, line 2 customer 1 chq 1, line 3 customer 2 chq 2, line 4 customer 1 chq 1 for example.
Issue 2 would be redundant if issue 1 could be addressed.

 

Jeremy Gleeson

I have the same issue. If I have more than 3 cheques, the bank expects a listing with the drawer, BSB, A/c No., cheque number and amount. If a cheque gets returned or bounced and if you have all these details on file you can chase up the client for a replacement. In Xero there is nowhere to have this information stored and I have had to resort to using an excel spreadsheet. Which is less than satisfactory. Xero should be meeting the bank requirements not me fumbling around with a spreadsheet.

In MYOB the undeposited funds allowed for this to happen. You could add the cheque details to the client card so each month they pay by cheque all you had to enter was the cheque number and amount.

When I first changed over to Xero in March I was using MYOB for my deposits as it was more convenient. Now as I have moved forward I cannot do this because the latest invoices are in Xero and not MYOB. Some people still pay by cheque so we need to have a deposit system that works.
 

Letitia Newsome

TO SHOW HOW CONVOLUTED AND STUPID XERO'S BANK DEPOSITS ARE.
I have received 9 cheques today.
1)the way to process are to add up the cheques deposit them and allocate them when they appear in the bank feed. Issues no details for the bank drawer BSB Ac Number and amount of each cheque which is required by the bank. Unless I photocopy the cheques I do not have any details of who they are from and what they are for. Or hand write all the details on the deposit for the bank.
2) deposit the way xero suggests as a batch deposit which is limited to 200 invoices on each page. So if you have one invoice on page 1 and another on page 2 and so forth you cannot do a batch deposit. Also there is a major flaw in this method as if you have one cheque for more than one invoice and you batch it. The deposit for the bank shows separate cheques for each invoice paid. Now on my bank deposit slip if I have 9 cheques but the bank receives a print out with 17 transactions how are they suppose to match the cheques to the transactions. When you do a batch deposit the transactions are all over the place so you don't have the cheque that is paying for five invoices all together. You might have one then another transaction from a different cheque and then two more and so forth. So how am I suppose to match up five separate transactions for one cheque.
3) The third way of depositing was using the undeposited account which I tried to do today. I have 9 cheques that have paid 17 invoices. What happens I get 17 different transactions instead of 9. I batch the one cheque against 5 invoices and end up with 5 transactions. This is very messy then when I print record of the transactions for the bank, I have 9 cheques with 17 transactions. When you deposit cheques all the same ones from ANZ, CBA etc should be appearing one after the other, this does not happen. I cannot figure out ow Xero orders the deposits, I usually deposit all the ANZ ones first and then the other banks but again when you print the transactions they are all over the place.
4) I was using excel but this is how errors are made. I want to be able to do all my accounting in Xero not have to make up workarounds.




 

Letitia Newsome

Bank deposits work around.
I have received cheques to pay invoices
1) Click on relevant invoice and pay using the Receive a payment function. In the reference I list all the bank details so they will appear on the exported report. I deposit to an account I have called Undeposited

I do this for all cheques only paying one invoice. If you have a cheque paying more than one you have to use the Batch deposit function. When you hit the deposit button in the next screen you can input the drawer BSB etc.

2) I export a report to excel showing all the transactions for that date for the undeposited account.

3) I then go into Excel and change the report to appear as the bank would want it. So I group all the ANZ cheques one after the other then so on for each bank. If I have a cheque paying more than one invoice I delete the lines and have only one entry for the cheque with its total. I then print this and deposit with my cheques to the bank. If you have cash payments you could group these together and get a total and a separate total for cheques.

4)When the deposit appears on my bank feed I allocate it to the undeposited account which should return to a zero balance each day.

This is still time consuming but was the best way I could work out to get payments against invoices as I received them without having to wait until the next day for the bank feed.
 

Letitia Newsome

I have converted a few of my clients from MYOB recently and every one of the, have indicated the painful way the so-called bank deposit slip is unusable.
We have resorted to going back in time by filling out a manual deposit book again as no matter how I enter the bank details, the reports look terrible.

Come on Xero!!!! You are moving in leaps and bounds in so many other ways and yet for the this very fundamental feature, it seems to be taking far too long.....😕
 

Gina Adderley

Having switched from MYOB to Xero, I too would like a better process for printing bank deposits. I have a process that works, but it takes too much manual work in Xero.

My workaround includes:
- Setting up "Bank" accounts for each type of Undeposited Fund - Cash - Cheque - Debit/Credit
- Receiving payments of Invoices to the appropriate account, sometimes with the "Deposit" feature, since Xero thinks my undeposited accounts are "Bank" Accounts
- Printing a "Bank Reconcilation Summary report for each account and bringing that to the teller
- Performing a "Transfer" from my undeposited funds accounts to my real Bank Operating Account in Xero
- Manually reconciling the transactions in each Undeposited Funds account (there is no statements or feed, so I do it like they recommend to do Petty Cash)

MYOB was much easier to use in this respect. Xero would have to set up a workflow specifically for bank deposits to be on par with MYOB.
 

David Geisel

I don't understand why this is not a core feature. If you all want to compete with Quickbooks, they are miles ahead of you on these features.
 

SPENCE CUMMING

I'm unsure if the designer of the Deposit Summary report has ever been to a bank and deposited a fist full of cheques. If they had, they'd realise this report is of no help. Yes, cheques/checks are decidedly old fashioned - but so are some of our customers and the way they pay. It'd be great if a tweak to the report could be made (to show one line with each cheque total) while we wait for these customers to retire.
Maybe the word "Summary" would help in understanding how to improve the report. What we have is "detail".
 

Brad Field

Please everyone who is following this thread make sure you vote at the top. Get anybody that you know is using Xero to vote. If we don't get enough votes Xero will not fix this issue.

As I have stated to them previously this is a bank requirement not a feature!!!!!!

Xero do not seem to understand this. Maybe if all the banks contacted Xero then something might be done.
 

Letitia Newsome

Just switched from QB to Xero. Shocked to learn that Xero has absolutely no clue how to deposit paper checks and cash at US banks. Not one bank will accept this pointless deposit summary. Now we are wasting time HANDWRITING deposit slips. Awesome.
 

Patrick King

You have a good sense of humour, Patrick! Just as well Xero isn't running for president - I doubt they'd get nominated...........
Please other users, keep voting on this issue.
"Beautiful accounting software" shouldn't need ugly workarounds.
 

Suzanne Vermeulen

Hi Xero, We have just migrated from MYOB and are having the same issue. Bank requires supply of BSB A/c #, cheque # & amount. Just like all the others above have requested. I would expect an accounting package that is relatively new on the market to be far more superior than MYOB V19.6 which was written in 2010. The last response from Xero was in April 2015 by Brittany and it is now August but there still appears to be no further responses or updates from Xero for this problem. Can Xero tell us what their plans are to rectify this problem?
 

Belinda Dean

I am in the process of migrating from QB Online. Four my service industry type business it would also be helpful if I could receive a payment from a customer while in the home, right up a sales receipt in Xero and have that check show up in a account with other invoices that have been paid, and from there, create a deposit slip to show all checks taken in.

Loving Xero!
It runs so smooth :-)
Kris
 

Kris Klein

This question was originally posted in March, its now August??? We too came over from MYOB after we were told how wonderful it was, this is a requirement from the bank NOT a feature, I would have thought that this wouldn't be too difficult to do. Can anyone please advise us as to when this will happen?? We shouldn't have to 'vote' to request something that should already be there.
 

Melissa Day

I am currently trialling Xero as we are trying to move away from MYOB. This is a deal breaker as 70%-80% of our clients pay by cheque and even the now over 10 year old MYOB v15 version we are using does this much better than Xero in 2015. We don't want to go backwards to manual workarounds.
 

Manuel Mall

Hello Manuel

Don't swop - it won't be worth your while, at this stage anyway. Unless Xero can update their package you are better off sticking to MYOB. It is a puzzle. Just keep on voting and spread the word.
 

Suzanne Vermeulen

Hi Manuel, thank you for directing me to this post. If you haven't swapped over, don't.... we've only recently swapped from MYOB and whilst there are some good functions in Xero, we are feeling like it's a MASSIVE step backwards from MYOB... there are many areas where Xero is not even comparable with MYOB and we were of the belief that we were improving our business processes! Xero has flaws in the absolute basics of bookkeeping.... bank deposits, batch deposits and a functioning Undeposited Funds account being just a few.

C'mon Xero, listen to your customers and fix this fundamental requirement for basic bookkeeping!!
 

Tamika Collins

Ok. I was at Xerocon last week and what a couple of days it was!!!!!
I did ask one member of Xero (sorry but his name eludes me at the moment but is very much a part of the product development team) when the bank deposit slip was going to be coming.
His reply was that with cheques being phased out it wasn't being looked at closely. He suggested a workaround of exporting the deposit summary to excel and manipulating the data to suit the bank requirements.
I, at first, thought, OK, that sounds ok BUT now I am back at work and doing one today, hit a huge concrete wall as there is no export feature to allow it to go to excel etc. the only thing I could do was to print the PDF.

I am very disappointed being told the workaround IS there when I could not find it anywhere.

Xero, please tell me where it is and how to do it.
 

Gina Adderley

Hi Gina
The work around that my accountant has helped me with is the following:
Set up an account Undeposited Funds as an asset. I then receive the cheque against the clients invoice and enter all the details of the cheque. Drawer Bank cheque number and use the Undeposited Funds as the account deposit. I do this for each client. Then I export a report of transactions to excel and redo the report so it is acceptable for the bank.
The issues are that if I receive one cheque for more than one invoice the report has each invoice payment as a separate line item, as compared to MYOB's undeposited report that lists the cheque details and not the invoice details. Also Xero does not have a payment section for each client where you can enter the cheque details and each time they pay you only have to enter the cheque number and amount.

Also the banks expect you to list cheques according to the bank they are rom, although I do them in this order when the transactions are listed they are all over the place, I am not sure how Xero re does the transactions in a completely different order to how I entered them.

Recently I have stopped exporting the report and just printing the transactions for the bank and handwriting all over it to make sense to the bank. Xero do not understand that this is a bank requirement and not a feature. I am lucky in that most of my clients direct deposit via internet banking but this is still a huge issue and time consuming.

I have written several emails to Xero and keep getting the scripted stock standard answer of unless a lot of people vote for it, it is not being looked at. I was so angry by this that my next email quite clearly asked for someone further up the food chain to respond. I received a phone call from them and she hadn't even looked at this post to see how frustrated people are. I am strongly thinking about reverting back to MYOB.
 

Letitia Newsome

After reading all of the "work arounds", it would seem a lot quicker to just handwrite a bank deposit slip - seriously Xero?? We have to go back to doing something MANUALLY because it's a quicker option than your computerised options??? (which don't meet bank regulations!)

Very clearly Xero, with all of these posts, you should be able to see how important this function is to businesses - it isn't a "feature", it's a necessary function in the business world. I too have been seriously considering reverting back to MYOB and we've only been using Xero since 1July 2015....
 

Tamika Collins

I too was very upset when I realized how the checks are processed within Xero. But I was basing that bias from how I have done this in Quickbooks for the past 28 years. I am convinced that the Xero team is invested in making this software the best for all users. I also feel that "checks/cheques" will most likely disappear in the near future, and in return I have decided to shift all of my customers into using check cards, debit cards etc...

I think this is a sign of the times and not some type of ignorance coming from a very large and creditable company. Change can be frustrating, no doubt! I will keep learning and shifting when needed to keep my business relationships healthy not only with my customers, but also with the brilliant minds that can create an amazing environment on such a large scale!
 

Kris Klein

Hi Kris

Appreciate where you are coming from and change is very frustrating. However, whilst cheques may disappear in the future, they are here now and will be for the short-medium term and this is a frustrating and inefficient process. Shifting to credit or debit cards incurs more fees for everyone all round, another cost to add to the consumer or a cost for the business to absorb??? At any rate, regardless of whether we want everyone to use electronic methods of payment, we have a number of "old school" clients who live by their cheque book, so until the bank removes this facility permanently, cheques will be around.

Change is frustrating and Xero has some good features but one would expect the basics of bookkeeping to be incorporated in ANY accounting software.
 

Tamika Collins

Hi Kris

I have big corporations who I have asked to direct deposit into our account instead of sending us cheques but they won't change. I also have smaller clients who post me cheques. I cannot force my clients to change and it will be a long time before banks stop issuing cheques. They still insist on cheques when you have settlement on properties and have a bank rep, a buyers legal rep, and a sellers legal rep all meeting to exchange cheques on date of settlement. So if the banks can't even do a property settlement without cheques, I don't think they will be getting rid of them anytime soon.
 

Letitia Newsome

I hear you both, I have the luck of being a very small service business so the change is somewhat painless. I did google the idea of checks disappearing and the Governments in the US are saying by 2026 they will most likely be gone. But in other countries possibly much sooner since this has been a trend early on. It seems that the Colleges, Universities & Theaters are the ones in my list that have a hard time with this concept as well.

I did vote for this feature, but sadly there seems to be only a small group of us who can truly benefit from this...
 

Kris Klein

While payment methods evolve with time, there will always be cheques (or checks as you Americans say). Remember all the talk of a cashless society? There might be less of it but it is still, and always will be, around. Therefore you would expect any accounting software to make provision for cash & cheques, full stop. Come on Xero, aren't you being a little unreasonable?
 

Suzanne Vermeulen

While the lack of this feature does hurt me in the context of the organisation I manage the books for in the overall scheme cheques are in significant decline. This quote is from APCA (http://www.apca.com.au/about-payments/payments-today/cheques) and I believe is from 2013:

"In Australia, similar to other countries, cheques are in long-term decline. Until the1980s cheques were the main non-cash payment method. However, cheque use has dropped by 70% in Australia over the past ten years and is continuing to drop at a rapid annual rate. The main reason for this is that payment cards and other convenient electronic payment systems have taken over. Today, cheques account for less than 5% of all non-cash payments made by consumers and businesses each day."

Re: "While payment methods evolve with time, there will always be cheques...There might be less of it but it is still, and always will be, around."

I don't think there is universal agreement on that within the financial sector.

For example this future assessment: http://www.apca.com.au/about-payments/future-of-payments and also this article: http://www.news.com.au/finance/money/cheques-to-die-within-five-years-following-66-per-cent-drop-in-use/story-e6frfmcr-1226632550706.

As I said, I would like to see Xero to properly support cheque payments and banking of cheques in their system but I can understand why it is not high on their priority list.
 

Manuel Mall

As this lacking feature was bothering me I did build myself the following workaround which is based around the QWD Excel Integration Tools (https://community.xero.com/business/discussion/2757209/) add-on.

Most of the cheque payments I am dealing with are from a small set (~50) customers with lots of repeat business. So I record the customers bank account details in the customer contact.

When I receive a payment I book it directly into the receiving account and into the reference I put '#<cheque no> ....'. If a cheque covers multiple invoices I record payments against all the invoices with all their references starting with the same '#cheque no'.

I then use the QWD Excel Integration Tools to download all payments for a given date range into Excel. Combine those using QWD Excel Integration Tools with invoice and contact data also downloaded into Excel automatically while doing some data massaging on the way. For example in the contacts table downloaded I have added columns that calculate BSB and Account No from the bank details recorded in the Contact.

Payments with references not starting with '#...' are treated as cash payments and grouped separately.

Once downloaded the final output is a pivot table that groups the payments by Payment Type (Cheque or Cash)/BSB/Account/Cheque No in a format acceptable to my bank (Westpac). So each cheque is shown only once and there are summary lines for Cash and Cheque amounts.

Print that sheet -> Done.

Sounds messy but once setup it is only a few clicks and no formulas need to be edited, cell ranges changed etc. Just download the relevant payments, click Refresh All (an QWD Excel Integration Tools feature) and the final sheet contains the nicely formatted Deposit Slip.

Clearly not ideal and it would still be preferable if Xero handled this directly but for me beats writing Deposit Slips manually.
 

Manuel Mall

replying to follow this thread. xeros deposit method makes no sense to me at all.
 

Phil Hart

Please add this feature. Many businesses still use (and will continue to use) cheques.
 

Mackenzie MacAuley

As someone who is working for a company just changing from MYOB to Xero, I have come into this conversation to find out how to process cheques and prepare a deposit slip for them. I found that the first query about this was in March and the last message is in November and it doesn't seem to have gotten any better.
So, I am adding my request for Xero to please put in a feature like that in MYOB which prepares a deposit slip with the basic information needed for the bank.
Thanks
 

Vicky Wright

I understand that the young people may not do checks, but most of my clients are older and still write checks. One client receives an average of 150 checks a month spread out during the month. Many will pay one check for several months (both in arrears and ahead) or combine different invoices on one check. This makes the deposit to the bank very difficult. I do not want to pay 50 cents per check to take a picture for deposit. Not only that, I also get lots of cash for various events.
Please look at the standard deposit check that is on 8x11 stock (deposit listing and detailed listing on the bottom) and be able to get a listing specifically by check no and one line for total cash.
If not done soon, you may lose many US clients.
 

Daniela Stiles

Looks like this is the 'feature' I think will stop me from using Xero. I am not going to keep a second manual record of the checks I deposit so I can perform the way Xero reconciles. I also know I have cash to deposit, but I have no clue how much I should deposit.
 

Phil Hart

So far the best way I've found to do this, is to continue using Quickbooks while I wait for Xero to figure out what a Deposit Slip means.
 

Larry Hatfield

(I am a newbie, so if I've misunderstood this feature, please enlighten me.)
The current batch feature doesn't take into account that checks/cheques may be received for prepayments. In that instance, there is no invoice to pay, so these checks/cheques have to be separately deposited, which is a real pain. We also receive checks in payment of orders on a POS which does not "connect" to Xero. These, too, cannot be batched. We get really evil looks from people in line at the ATM when we do checks/cheques one at a time.
 

Robert Riso

Hello Robert
You can receive a payment as a Prepayment (or over payment or direct payment - just toggle between them. Use Receive money and there is a drop down arrow to the right. Create your sales contact first, though.
But as to a proper deposit slip, no, it is Xero that should be getting the black looks ....
I only use it because it is mandated by head office, otherwise you can't do better than MYOB.

Just spread the word and keep on voting.

Thank you.
 

Suzanne Vermeulen

Thank you. We are aware of how to take payments in that way. It's the batch deposit that we can't seem to do.
 

Robert Riso

Robert
No, nobody who uses Xero can. Batch deposits only work for invoices paid from the same client by one cheque. You have to do a batch per client - crazy.
Hopefully they will listen one day.
Thank you.
 

Suzanne Vermeulen

Merged: Bank deposit slips

I want to list checks on a bank deposit slip so that I can deposit checks into by bank account.

So far, I haven't found a way to make bank deposit slips. Please help.
 

Michael Leach

Hi Michael, we do have a Batch Deposit feature, and you can print a deposit summary to take to your bank.
But it sounds like you might be asking for the same functionality that's being requested here? If so, would you mind if I merged your post there too, so we can keep all thoughts on this together?
 

Kelly M (Community Manager)

Kelly-sounds good. And thanks for your help.
 

Michael Leach

I agree with Suzanne. A basic accounting function, bank deposit slips, is not being met by Xero. Migrating to Xero has been a monumental task and I had hoped for much more. Its been one step forward and two back.
 

Michael Leach

Our business works exclusively with manufacturing, and all of our customers pay by check. The fact that bank deposit slips are not available is extremely frustrating, and requires filling out a deposit slip by hand. In my opinion, this is the biggest feature missing from Xero.
 

Lance Yoder

We are an accounting firm and require to receipt clients payments as they pay (ie not at the end of the day) and in doing this, we are unable to print the Deposit slip at the end of the day that shows all cheques and cash that we will be banking. We really don't want to have to do manual receipts or manual deposit slips. I would like to see this function in Xero. I love this program but would love it more if this was added.
 

Cheryl O'Neil

Thank you everyone for joining the group with your comments. Alas it doesn't appear that Xero thinks this is a big enough priority as yet but lets keep talking about this until something changes for the better.
 

Belinda Dean

It has been well over one year and nothing has changed, it is blatantly obvious to me now that this will NEVER happen with this company. Running a one man service shop while trying to find workarounds for something that exists in EVERY other accounting program has finally pushed me over the edge to leave Xero.

I really enjoy working with this program but I am done hopping that taking about it will change how they want to do business. Until planet Earth decides to stop using checks, hopefully within my lifetime, I will be using a different resource.

Every single payment I receive is a check, every single dollar my company earns is in the format of a check!

Xero does not work well with checks, period...
 

Kris Klein

How could any accounting system be launched with such a disgraceful process for bank deposits.

Had our company been aware we would not have converted from MYOB.

This thread began (seems there was an earlier one) in March '15 yet still not altered to customer satisfaction.

If asked, I would have to advise not to convert from MYOB on that alone.

Suggestion: To retain bank details in customer card where bank details go for making payments, in the field under titled "Details", include bank details here that will be added to the bank deposit slip.
 

Glenn Robbins

It seems like Xero only act if a large number of people vote about an issue.
So please spread the word and get people voting.
However, it is not a feature you'd expect from a "beautiful" accounting programme.
Nor is it any way to treat customer complaints - basically ignore them.
 

Suzanne Vermeulen

Thank you for the Bank Deposit Summary. I have had a little play with it and notice Xero pulls data from the Contacts "Particulars" field for the Deposit Summary "Reference". So I started using that field to input Bank Name and Branch as required for cheque deposits. Now when I do a Batch Deposit, those Details show up automatically. Awesome!

http://evangelist.org.nz/downloads/Particulars.pdf (231 KB)

The only problem is it limits to 12 characters. It would be great if Xero actually used the "Bank Account Name" field for Batch Deposits and Deposit Summary's since there is no character limit? Then that will leave the "Reference" field free for Cheque numbers?
 

Raewyn G

I've been using Xero for over a year now. I have called, emailed, and posted this issue with deposit slips. Even though this seems like a large hole in their service, they are obviously not going to fix it. I had intended to replace Xero with Quickbooks. But over the course of this last year, I've moved back to Quickbooks and will discontinue Xero this month. It's a little expensive for using it ONLY as a Invoicing service.
 

Larry Hatfield

I feel your pain. For us, the deposit slips, or lack thereof, was an issue from the beginning. Furthermore, my accountant refuses to use Xero and the situation will only get worse from here. Back to square one.
 

Michael Leach

Hi folks
I have created an excel sheet that groups cheques and cash in the format that banks require.
Feel free to download a copy of the file from
https://onedrive.live.com/?id=9370E604632A3C09%212771&cid=9370E604632A3C09
You will need to have macros enabled in your version of excel.
I can see that Xero have at least sorted the standard form to client (used to be by inv #), however still lack the total by cheque that the banks need.
I suspect there are some senior mgmt @ Xero that are against old practices (cheques/faxes etc) and are reluctant to downgrade the system to accommodate these.
Unfortunately not all of our clients are on the same page, and whilst cheques are still available in the world, we need a process that allows us to bank them.

@Michael Leach - I would recommend a good think about your current accountant. If they refuse to work with Xero, I can only suspect its because they cant bill you for the data entry you can complete yourself in Xero, which is not adding much value to your business decision making. Would happy to be proven otherwise.
 

Jeremy Gleeson

@Jeremy Gleeson - Thanks for your insight. I'm speaking with a new accountant this week and hoping for the best. I chose Xero because of the add-on apps and cloud based management tools. I still believe its the only way to go if I expect to have a viable business in the years to come.
 

Michael Leach

No accountant will be able to organise a functional deposit slip in Xero.
Any software package worth its salt shouldn't require Excel (or other workarounds).
Xero is a disappointment.
 

Suzanne Vermeulen

We use the Excel template work-around and are satisfied with this solution, given how much of an improvement Xero is for us in all other areas. This is the only area we have where Xero does not do what we need it to, and compared to how many work-arounds we were having to use in our previous solution, is quite an upgrade!
 

Lance Yoder

Xero is never going to improve the deposit feature.
I strongly recommend EZ DEPOSIT SLIP. Its nuisance to double enter, but the software works, and allows us to print US Bank acceptable deposit slips, Xero is great but this is one feature that I still can't believe they have not bothered to improve.
 

Luis Martinez

You've summed it up very well Luis, Xero just can't be bothered ...
 

Suzanne Vermeulen

I left Xero because of this and many other simple things that will never be implemented. I was tired of feeling like a fool in hoping things would change by posting.
 

Kris Klein

It would be a simple fix for xero to change the Batch Deposit Summary report to what the description says; "summary". What we have is "detail" that makes the report useless for the purposes they pretend it's designed - as a SUMMARY of the cheques being banked. There's many things right with Xero - but their pig headed attitude towards this report (because one day no one will use cheques) isn't one of them.
 

Brad Field

Subscribing to thread...
 

David Haddad

I can't tell if this thread is still open or even how old it is (I don't see dates on any of the comments), but I also am in need of a functional deposit slip. I have not yet used the Batch Deposit feature because it doesn't appear to serve our purposes. As I understand it, the Batch Deposit will ONLY include payments on invoices, so it would not include "receive money" transactions. I also am unclear as to whether or how it would work with payments received through Re-Leased, as we have a great many of those. I need a deposit feature that would include ALL of our deposits, however they are received.
 

Ninette Farrier

We have had good success using the following work-around:
-When a payment is received (not when you take it to the bank), record each individual payment against a single invoice, multiple invoices (batch deposit), or receive money, as appropriate for that payment
-Use Excel Deposit Slip template to create and print a deposit slip containing multiple payments
-When reconciling, match the bank deposit to all of the corresponding deposits in Xero

This works well for us because it allows us to mark the invoices as Paid in Xero as soon as we receive the payment (so the Invoices Owed to You section and Average Time to Pay are up-to-date and correct in Xero), then when we're ready to make a bank run, we can print the deposit slip containing all of the payments since the last bank run.

Would be slightly less work if Xero had this feature built-in, but since they seem to be ignoring customer feedback, this work-around is the next best thing, and it really isn't that inconvenient.
 

Lance Yoder

Thanks for your response, Lance. I did a search in Excel for a deposit slip template and couldn't find one - did you need to create one yourself, or can you tell me where to find it? Also, do you need to enter all the deposit information manually, or is there a way to import it somehow from Xero? It appears as though it would all need to be entered manually...?
 

Ninette Farrier

I believe I got our Excel template here - we use the Quickbooks-compatible deposit slips, so this template fits those deposit slips.
http://myexceltemplates.com/quickbooks-deposit-slip-template/

We enter each payment into the deposit slip manually, but it really isn't that much of an inconvenience for us - the extra time this takes is substantially less than what we saved in switching to Xero in the first place.
 

Lance Yoder

Thanks again, Lance - I'll take a look at it.
 

Ninette Farrier

Hi Ninette & Lance
If you refer back to my post about 10 or so ago, I have provided a link to a excel template that I have built, that works by dropping an extract from Xero, to provide a deposit slip for use at the bank.
You will find this easier than having to rekey the data.
 

Jeremy Gleeson

Not having a printable deposit slip is definitely a step backwards and may contribute to my scrapping migration to Xero. Can't justify work-arounds all the time.
 

Jon Zeltsman

It is not a question of which is the best workaround; there should not have to be a workaround in the first place! When (and if) Xero recognise this will determine when (and if) improvement will be made. Stay where you are, Jon. Much better off.
 

Suzanne Vermeulen

Checks will not disappear soon. My clients are local government entity, where after each check is printed, 2 or 3 people have to sign it (superintendent, business administrator, treasurer), and then it has to be approved by the elected board at their next meeting. There is no way to replicate that process without paper.

I do not want a batch deposit slip which gives the total. I need a slip that lists each check number and amount, and has the total and ABA routing and account numbers at the bottom.
 

Dan Riordan

Merged: Deposit slips for banking coins, notes & cheques.

We have multiple accounts that we bank notes, coins and cheques into.
It would be great if:
1. we could receipt the payment in a holding account (as we may bank weekly or fortnightly)
2. tick which receipt/s we want to bank and select which account we want to bank it to (which would tally the total amount to be banked). If a breakdown of notes, coins and cheques could be added that would be great so the cash drawer could be balanced to the deposit slip.
3. print the deposit slip to take it to the bank with the notes, coins & cheques
4. submit the deposit in Xero to remove from a holding account and add the deposit to the account we have banked it into.
 

Rebecca Richardson

Hi Rebecca, I'm just going to merge to this larger request for the ability to print a bank deposit slip that you can take to your bank. Don't forget to come back and add your own vote.

In the meantime, we have a help article that explains how you can go about recording undeposited funds like cash and cheques, in Xero. You can also create batch deposits to group transactions that are paid with a single payment.
 

Kelly M (Community Manager)

While the deposit summary is nice, we need a printable deposit slip for pre-printed deposit slips: the top is the deposit slip to take to the bank and the bottom is blank for printing the summary to keep for our records.

 

Vanessa McMurry

My bank (and every bank I've dealt with) is looking for something like this deposit slip; a list of checks, the total near the bottom in that gray box, and the ABA routing and account numbers across the bottom. If I could print this right out of Xero, it would be heavenly.
 

Dan Riordan

Hello,
You can use onlinecheckwriter.com for creating online deposit slips.Please respond here, If you want us to integrate this feature with Xero, we will make third-party plugin
 

John myres

John - if onlinecheckwriter.com had a deposit slip ONLY version for a couple dollars/month, I might consider it. I don't need any of the other features, so I can't justify $10/month (which is more than the Starter version of Xero) just to print deposit slips.
 

Lance Yoder

I use the deposit summary all the time. It's sort of OK, except when I punch it to file it, the hole goes smack in the middle of the payer's name. Please increase the LH margin.

That's not my main request, though - why can't I create a deposit summary that's unrelated to invoices -> receive pmt?

How can I make a deposit slip / deposit summary to detail cash and cash sales paid by cheque? It's a retrogade step to have to manually fill in the bank's deposit slip then do a post-deposit reconciliation.

As a work-around I guess that I could create a customer Cash Receipts - Cheques, another one Cash Receipts - Cash and another Cash, raise an invoice against tthem customer and show it unpaid - then record unattached cheques/receipts to them. Seems incongruous, though, to have to keep track of unpaid cash sales!
 

Ron Stark

Here's a simple work-around to deal with the problem of creating a deposit summary / deposit slip for cash received that's not directly related to a customer payment.

1 - create new "customers", (you'll likely need 2 but you could have more to suit your business). for example Takings - Cheques and Takings - Cash.  Give them whatever names work for you.

2 - after you've done your daily / weekly / whatever cash counts, create a new invoice to whatever of those new "customers" are relevant to your situation, and that match the cash you have in hand.

3 - go to Invoices Awaiting Payment, mark whatever of the new customers for which you need the deposit summary

4 - click on Deposit - that will give you both the reconciliation and the deposit summary to take to the bank.

This method effectively acts as a vehicle to hold undeposited cash receipts. It also allows you to track daily takings and bank weekly if you wish.
 

Ron Stark

But if Xero took this problem seriously it could - with a minimum of work make the existing report work for it's deigned purpose; just change the so it's a "summary" as per the description rather than "detail" which it is now. Remove the invoice number from the report and total on cheque number / customer... It wouldn't be that hard...
 

Brad Field

So.......I can't print a simple deposit slip from my accounting software? I receive multiple checks daily on items that are not related to invoices in Xero. I just want to generate a deposit slip.
 

Dave Gutterud

as FROZEN said 'Let it go, Let it go' .....I don't believe Xero has any intentions of ever supplying this function. Easier to give up asking and use a suggestion above or use another program.
 

Belinda Dean

Hello David
You can in a very simplistic way; by using the receive money function, entering the bank account numbers in the reference box, and allocating the receipt amount directly to an income account in the GL.
The problem we are talking about here is allocating multiple receipts of cash/cheques/eftpos to assorted debtor invoices and being able to print out one deposit slip to take to the bank. If you
are not allocating against invoices (puzzling as this sounds for normally you would invoice your income), then you should have no problem.
After creating the entry, simply print two copies of the PDF (one for you, one for the bank) and away you go. You will have to enter each cheque separately though, very time-consuming.
To further add to the discussions above, even if cash and cheques were abolished, in Xero you still cannot create an entry that allocates multiple eftpos receipts against the single daily settlement provided by most merchant services.
Think very carefully if you really want to continue with Xero.
Thank you,

 

Suzanne Vermeulen