{"id":158012,"date":"2026-10-27T13:44:48","date_gmt":"2026-10-27T13:44:48","guid":{"rendered":"https:\/\/docs.daftra.com\/?post_type=tutorial&p=158012"},"modified":"2026-11-11T10:41:28","modified_gmt":"2026-11-11T10:41:28","slug":"collecting-a-deposited-cheque-and-deposit-fees","status":"publish","type":"tutorial","link":"https:\/\/docs.daftra.com\/en\/tutorial\/collecting-a-deposited-cheque-and-deposit-fees\/","title":{"rendered":"Collecting a Deposited Cheque and Deposit Fees"},"content":{"rendered":"
\n

After the bank clears the deposited cheque, record its collection along with any deposit fees; the net amount is added to the Collect Account<\/strong>, and the fees are recorded as an expense.<\/p>\n

\n
Required permissions<\/span>Manage Receivable Cheques<\/strong>, set from Roles<\/strong><\/a>.<\/span><\/div>\n
How to access<\/span>Receivable Cheques<\/strong><\/a> \u2192 open the cheque \u2192 Collect<\/strong>.<\/span><\/div>\n<\/div>\n
\n

Contents<\/p>\n

    \n
  1. When does the action appear?<\/strong><\/a><\/li>\n
  2. Steps<\/strong><\/a><\/li>\n
  3. Effect on the system<\/strong><\/a><\/li>\n
  4. Restrictions and conditions<\/strong><\/a><\/li>\n
  5. Error messages and solutions<\/strong><\/a><\/li>\n
  6. FAQs<\/strong><\/a><\/li>\n<\/ol>\n<\/div>\n

    When does the action appear?<\/h2>\n

    For a cheque with the status Deposited<\/strong>; afterward, it becomes Collected<\/strong>.<\/p>\n

    Steps<\/h2>\n
      \n
    1. Open the Deposited<\/strong> cheque and click Collect<\/strong>.<\/li>\n
    2. Enter the Collect Date<\/strong>, Deposit Fees Amount<\/strong> (enter 0 if there are no fees), and Notes<\/strong>.<\/li>\n
    3. To choose a fees account other than the default, click Advanced<\/strong> \u2192 Deposit Fees Account<\/strong>.<\/li>\n
    4. Click Collect<\/strong>; the message Receivable cheque collected successfully<\/strong> appears.<\/li>\n<\/ol>\n

      Effect on the system<\/h2>\n\n\n\n\n\n\n
      Account<\/th>\nDebit<\/th>\nCredit<\/th>\n<\/tr>\n
      Collect Account<\/strong><\/td>\nAmount minus fees<\/td>\n\u2014<\/td>\n<\/tr>\n
      Deposit Fees Account<\/strong><\/td>\nFees<\/td>\n\u2014<\/td>\n<\/tr>\n
      Outstanding Deposit<\/strong><\/td>\n\u2014<\/td>\nFull amount<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
      \n

      Example<\/p>\n

      A deposited cheque of 10,000 with bank fees of 25: 9,975 is added to the bank account, 25 to the deposit fees account, and 10,000 is deducted from Outstanding Deposit.<\/div>\n<\/div>\n

      Restrictions and conditions<\/h2>\n
        \n
      • The collection date can\u2019t be before the due date or in a closed period.<\/li>\n
      • The fees must be a number no less than zero.<\/li>\n
      • The deposit entry stays as it is.<\/li>\n<\/ul>\n

        Error messages and solutions<\/h2>\n\n\n\n\n\n
        Message shown<\/th>\nCause<\/th>\nSolution<\/th>\n<\/tr>\n
        The collection date must be greater than or equal to the due date<\/strong><\/td>\nThe collection is dated before the due date.<\/td>\nCorrect the date.<\/td>\n<\/tr>\n
        This date is in a closed financial period<\/strong><\/td>\nThe date is within a closed period.<\/td>\nChoose a date outside the closed period or open the period.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

        FAQs<\/h2>\n

        How do I record the bank\u2019s commission on the cheque?<\/h3>\n

        Enter it in Deposit Fees Amount<\/strong> when collecting.<\/p>\n

        Collected the deposited cheque by mistake?<\/h3>\n

        Click Undo Collection<\/strong>; it goes back to Deposited<\/strong>.<\/p>\n<\/div>\n","protected":false},"author":39,"featured_media":0,"template":"","categories":[2122,2124],"tags":[7034,29977,29978,29969,29962],"class_list":["post-158012","tutorial","type-tutorial","status-publish","hentry","category-cheque-cycle","category-manage-receivable-cheques","tag-cheque-cycle","tag-collect-deposited-cheque","tag-deposit-fees","tag-outstanding-deposit","tag-receivable-cheques"],"yoast_head":"\nCollecting a Deposited Cheque and Deposit Fees - Daftra Knowledge Base<\/title>\n<meta name=\"description\" content=\"Learn how to collect a deposited receivable cheque, record bank deposit fees, and the journal entries created on collection.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/docs.daftra.com\/en\/tutorial\/collecting-a-deposited-cheque-and-deposit-fees\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Collecting a Deposited Cheque and Deposit Fees - 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