Manage Deposit Types

Deposit types are used to ensure that deposits are recorded in the correct GL account in your accounting system. If all deposits are in the same GL account or if you are not recording deposits in your accounting system via an integration or report from Momentus Elite, you can create a single deposit type.

• Deposit Types
• Add Deposit Types
• Edit Deposit Types
• Inactivate Deposit Types

Deposit Types

1. Click your name in the upper-left corner.
2. Click Inventory & Prices.
3. Click Setup.
4. Click Deposit Types.

Add Deposit Types

1. Click the plus by Deposit Types.
2. In the Create Deposit type slider:
   1. Add the name of the deposit type. If you only have one type, you can just call it deposit.
   2. Select the appropriate GL account your deposits should be allocated to (this is optional).
   3. Select which taxes we should apportion part of the deposit to. Notes:
      • If this type is used to create a percentage deposit, only taxes selected here and added to the items selected on the deposit invoice or invoice schedule will be apportioned. Only select taxes you wish to include on deposit invoices.
      • If this type is used to create a flat deposit, all selected taxes will be backed out of the deposit amount, apportioning an amount for each selected tax. We recommend only including taxes that will later be charged on the event.
      You'll notice there isn't an option to specify if the deposit is a percentage of charges or a flat amount - that option is chosen when the deposit invoice is created.
   
3. Click Save.

Edit Deposit Types

1. Click the deposit type you want to edit to open its Edit Deposit Type slider.
2. In the slider, you can:
   1. Update the deposit type's name.
   2. Add, edit, or remove the deposit type's GL Code. Clicking in the field will expand a list of available GL codes. You can begin typing the name of a GL account or its code to filter the list.
   3. Add, edit, or remove taxes to be applied. Clicking in the field will expand a list of available taxes.
3. When you're done updating the deposit type, click Save.

Inactivate Deposit Types

1. Click the deposit type you want to inactivate to open its Edit deposit Type slider.
2. Toggle Active off.
3. Click Save.
4. By default, inactive deposit types will not appear in the list. You can click the eye icon to toggle whether they are visibility shown or visibility_off hidden.