Q - How can I generate a deposit report for a particular time period by grand total? I do not need details per customer. I'm looking for more of a global report.
A - I get this question often because frequently there are significant discrepancies between the net income on the P&L and the amount of deposits made to the bank. There is one standard report that gets you close to this objective but not quite. This is the Deposit Detail report.
Generating the Deposit Detail Report
Reports > Banking > Deposit Detail. An example is shown below. As you can see this report gets you the deposits for the period requested but does not total them for you. You could export this to Excel and get what you need but there is a much easier way.
Let me introduce you to "Contributed Reports." These are custom reports that are created by end users all across the country as well as Intuit personnel. This is a little known great resource for custom reports. If someone has already done it why reinvent the wheel?
You get to these reports by going to the Report Center. Click on the Contributed tab and choose the appropriate category from the listing on the left hand panel. You can also view reports by Industry or even based on their rating from the community. In our case we are looking for a report that shows total deposits in a period with a grand total. This is the Deposit Listing By Bank Account report that I have highlighted below. Scroll down to see the report generated for the same period as the standard report above and you'll also see the grand total that was missing from the standard report.
This report is concise and gives our client exactly what they were looking for. Now the question ultimately led to why their deposits were so much less than their net income. That was because they had significant open receivables, so tighter cash flow policies were needed to ensure collections were being made in a timely manner. That's a subject for another post on another day.