Creating a Deposit Type

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 VenueOps, you can create a single deposit type.

To create a deposit type:

  1. Click on your name in the upper left corner and select Inventory and Prices.
  2. In the Setup tab, go to Deposit Types.
  3. Click the plus by Deposit Types.
  4. 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. If you have flat deposits, select which taxes we should apportion part of the deposit to. This does not apply to deposits which are based on a percentage of charges. Selecting taxes is optional.
    4. 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.
  5. Click Save.

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