We are looking for a solution to account for deposits that are arriving in our banks, and ability to handle the following: 

  • Create cash control accounting entries.
  • Journal payments directly to the general ledger.
  • Reconcile payments on a bank statement.


We need ability to apply a payment (bank deposit usually contains numerous paid invoices) to multiple items for a single customer or to multiple items for different customers, even across business units. After entering a deposit, we then want to apply individual payments across myriad of invoices, until a deposit is fully applied.  When the payments are posted, the deposit creates accounting entries to debit cash, while the actual tagging/applying of the invoice updates the customers' balances and creates a credit side of the entry. Similar functionality exists in Oracle/PeopleSoft product. However, we were directed to a "deposit slip" which does not cover all of the required balancing and operations.