How to log a cheque received but not yet deposited

What’s the best way of doing this? Want to log the cheque received so clients get notified and it doesn’t affect their pay history but haven’t deposited cheque to bank now.

I have bank feeds enabled now so I’ll have to go and detach payment and reattach when I deposit the cheque.

Is there a way round that?

Hi @tobyw7

There’s no definitive way of doing this in QuickFile. However, a common method is to create a Cheque Holding bank account and treat it like you would petty cash - tag the money coming in there when it’s received, and then tag it to the bank when it’s cleared.

This topic will remain open for a few days, so other users may have better suggestions to add :slight_smile:

That sounds like a good way of doing it. I’ll see if anyone else comments.

Thanks for the quick reply!

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I have a cheque holding account set up in my QuickFile which I use both ways round - if I receive a cheque payment I tag it to the holding account on receipt, then transfer from the holding account to the bank when it is paid in and cleared, and when I write a cheque to pay a supplier I mark the purchase as paid from the holding account, then a bank transfer from current account to the holding account when it shows up on my bank statement.


Thanks Ian, I think I’ll set up a holding account in this way…

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