ⓘ This article is for small businesses who use Xero
Overview
- Create a batch deposit when you're going to deposit cash or cheques in your bank account for multiple invoices.
- Batch deposits are also useful when a customer has made a single payment for multiple invoices.
About batch deposits
- A batch deposit records multiple invoices as paid in a single payment transaction. You can create a batch deposit if you're going to bank cash and cheques for multiple invoices as one deposit, or a customer has made a single online payment for multiple invoices.
- You can include a maximum of 50 invoices in a batch deposit.
- Once you've created a batch deposit, print a deposit summary as a record of what transactions the deposit is made up of.
- When the deposit appears on your bank statement, you only need to reconcile it against one transaction instead of searching for multiple invoices. If any of the payments fail (eg a cheque bounces), remove that invoice so the batch deposit matches the amount on your bank statement.
- You can only create batch deposits for invoices entered in your base currency, and in a base currency bank account.
- If you receive an overpayment from a customer, deposit it at your bank separately – you can't include overpayments in your batch deposit.
Create a batch deposit
- In the Business menu, select Invoices.
- Click the Awaiting Payment tab.
- Select the checkboxes for the invoices you want to include in the batch deposit.
- Click Deposit.
- Enter the information into the batch deposit fields.
- Adjust the amounts in the Payment column if you have received part-payments for your invoices.
- Click Deposit.
Once you've created the batch deposit, you can print a summary of the transactions included by clicking Print Deposit PDF.
Batch deposit fields explained
This section provides guidance and tips on the batch deposit fields.
| Field | Description |
|---|---|
| Payment date | Enter the date your customers paid you or the date you are going to deposit your batch of cheques. |
| Reference | Choose a reference to suit your organisation. |
| Bank account |
From the drop-down menu, select the account you're going to deposit your cheques into. This can be a bank account or any account on your chart of accounts with payments enabled. You won't be able to select a credit card or foreign currency bank account. If you're creating a batch deposit for a customer who has made a single payment for multiple invoices, select the bank account your customer deposited the payment into. |
| Reference/Cheque No | This field is optional.
Choose a reference to suit your organisation. You might want to include your customer's cheque number. |
Print a batch deposit summary
If you didn't print the batch deposit summary at the time you created it:
- Find and open your batch deposit.
- Click Print Deposit PDF.
- Open and print the PDF.