Daily Deposit Process

Income:

  1. Select ACCT RECEIVABLE from tree view in M1 Software
  2. Enter PROPERTY and SEARCH
  3. Select PROPERTY LEDGER
  4. Click on the drop down menu in the income box for the code that corresponds to the income
  5. If resident funds for any item, select the RESIDENT NAME
  6. Enter the amount
  7. Click ADD button

Expenses:

  1. Click on the drop down menu in the expense box for the code that corresponds to the expense
  2. Select the vendor, resident  or click the owner box depending on the expense
  3. Enter the amount
  4. Click ADD button

Note: See the most commonly used code sheet.

Once items are all entered:

  1. Run a tape to verify amount received
  2. Select ACCT RECEIVABLE on the tree
  3. Select DEPOSIT RECEIPTS
  4. Check ALL button to mark all items
  5. Click CALCULATE button and verify the Current Calculated Balance matches tape
  6. If all is in balance, click the BALANCE CONFIRMATION box
  7. Click PROCESS button and a PDF file will appear on screen to print out
  8. Attach a copy of the tape, the deposit receipt and Daily Deposit sheet & place in your Daily Deposit Book
  9. Stamp back of checks and prepare deposit for the bank