Large deposits of cash and cheques

CarolAnne123

Hello!
Many of my clients pay with cash or by cheque. I make invoices in wave and record the payments as going into ''Cash on Hand''. When I do a bank deposit it will include numerous payments. Do I then have to match this deposit to every single payment that it might possibly include? Is there an easy way to do this?
thanks for any help/advise

apples

Hi @CarolAnne123 You will want to create a transfer between your cash on hand and chequing account. Once the deposit hits the chequing account, you can indicate that it was a "transfer" from the cash on hand account. This will automatically generate the withdrawal from the cash on hand account which in effect decreases the cash on hand balance. This article explains how transfers work.