• Review Undeposited Funds Balance
• Add Items to the Ignore Undeposited Funds List
• Review Ignore Undeposited Funds List
• Undeposited Funds Account Balance Too High
• Undeposited Funds Account Balance Too Low

Review Undeposited Funds Account Balance

To verify that the Undeposited Funds List is accurate it should be compared against the Undeposited Funds account balance (1999/19999). The sum of items in the Undeposited Funds list should match the Undeposited Funds account balance. If these balances do not match additional troubleshooting is required to resolve the discrepancy.

If these amounts do not match the first step is to review the Undeposited Funds List and the Ignore Undeposited Funds List. Details on these processes are outlined in the next two sections.

 Add Items to the Ignore Undeposited Funds List 

Occasionally, entries are posted to the undeposited funds account but don't require the entry to be posted through to deposit. These entries can be added to the Ignore Undeposited Funds List. This function does not change the overall balance of the Undeposited Funds account and should be used only to remove items from Undeposited Funds List that truly don't require a reversal or deposit.

1. From an open deposit batch, choose Prepare>Ignore Undeposited Funds.

2. A list of all items currently available for deposit will appear. To remove an item for the undeposited funds list check the Ignore option (red). It is recommended that you also list an Ignore Reason (green) to aid potential future troubleshooting. Select Close when all desired items are ignored.

  Review Ignore Undeposited Funds List

Items that have been erroneously added to the Ignore Undeposited Funds List can be re-added to the Undeposited Funds List so they can be deposited or reversed. Re-adding items does not change the overall balance of the Undeposited Funds account.

1. From an open deposit batch, choose Prepare>Ignore Undeposited Funds.

2. A list of all items currently available for deposit will appear. Remove the filter on the Ignore column by opening the column menu and selecting Clear Filter.

3. Clearing the Ignore option and Ignore Reason will re-add the item to Undeposited Funds List. Choose Close when finished.

 Undeposited Funds Account Balance Too High

Once the sum of items on the Undeposited Funds List matches the Undeposited Funds account balance, the account balance can be reviewed for accuracy. A balance that is too high frequently indicates that a gift payment or other receivable was posted in error and requires reversing.

If the item is related to the gift payment, reverse the payment using the Reverse a Gift Payment process in akoyaGO CRM. Instructions on Reversing Gift Payments in akoyaGO CRM can be found in KA-01404.

If the item is related to a general journal entry, the entry should be reversed from Business Central's G/L Entries. Reversing from G/L Entries results in the reversal being posted to the original date. If the the original posting date is in a closed accounting period a reversal entry should be posted from General Journals, and both the original item and the offsetting entry should be added to the Ignore Undeposited Funds List.

Undeposited Funds Account Balance Too Low

Once the sum of items on the Undeposited Funds List matches the Undeposited Funds account balance, the account balance can be reviewed for accuracy. A balance that is too low frequently indicates that a gift payment or other receivable was reversed erroneously.

1. The entries posted to reverse the gift payment should be reversed directly inside Business Central's G/L entries. Start by locating the gift payment number in the Undeposited Funds List.

2. Navigate to Finance>G/L Entries and filter on the Payment Number (red) and locate the reversal entries (blue).

3. Before reversing the entries the underlying customer ledger entries most be unapplied from one another. Choose one of the receivable lines, select Home>Find Entries.

4. Open the Customer Ledger Entries.

5. Select one of the reversal entries, open the Apply Entries menu, and select Unapply Entries.

6. Select Unapply and then Yes to confirm the choice.

7. The entries are now unapplied and open. Select Back twice to return to G/L Entries.

8. The entries can now be reversed by choosing more options on the Undeposited Funds account line and selecting Reverse Transaction.

9. Select Reverse from the preview window and then Yes to confirm.

10. Repeat steps 9 and 10 for the revenue line. If the gift payment had been deposited and was reversed in error, the gift payment in akoyaGO CRM will need to have the Amount and Payment Status restored. Contact akoyaGO Support for assistance.

Navigating back to the Undeposited Funds List will confirm the negative value has been removed from the list.