I found this on line (see below) – My preference for Deposits is that you get a great test report with applications, this creates Posted Deposits which will allow you to reprint the report so you can see the applications (Cash Receipts do neither). If the Cash receipt is not entered correctly then each line will be a deposit for the bank rec – and that is a mess. I have never had a client ask to go back to Cash Receipt after showing them Deposits. I have some clients that use both – due to importing to Cash Receipt journal – but still prefer Deposits if entering data. We also have done imports into a Deposit screen. I guess I would ask why is the Cash Receipt journal better?
Generally speaking, both accomplish the same purpose. In Dynamics NAV (where much of Dynamics 365 for Financials' functionality comes from), the Cash Receipts Journal is available globally, but the Deposits template is unique to the North American localization only.
I find that it is a matter of preference among users as to which they use. The Cash Receipts functionality is more journal like in its setup, while Deposits is simpler (header area and lines for details).
In my subjective opinion, I prefer Deposits: Imagine a scenario where you've got a handful of checks in front of you that you intend to deposit into your bank account. Total up your checks, fill in the Deposit header by identifying the Bank account you are depositing into, the total, the dimensions (if they apply to all lines; otherwise, you can do dimension assignments at line level). Then I fill in the lines by selecting Customer, amount, Check #, apply to invoices, and repeat the process until the total of my lines equals the total amount on my header. And the Deposit header tracks the totals and shows me when the header amount equals the lines' amount. Then I can safely post it, and on my way home, I can do the actual deposit. (Or if my actual deposit at the bank precedes my booking of it in D365, I can use my Deposit confirmation number as my Deposit number in D365; this requires allowing MANUAL numbers in the No. Series associated with Deposits).
It's easier to track real life deposits to the bank with deposits inside D365.
In Cash Receipts Journal, while I can post multiple entries at once from within a batch, each customer payment is recorded with a unique document number, and the only way I can see them all grouped together is by navigating to the G/L Register. Otherwise, I can only tell that they were posted on a certain date from a certain batch within the Cash Receipts Journal.
So, in my opinion, Deposits offer greater trackability than Cash Receipts Journal.
Generally speaking, both accomplish the same purpose. In Dynamics NAV (where much of Dynamics 365 for Financials' functionality comes from), the Cash Receipts Journal is available globally, but the Deposits template is unique to the North American localization only.
I find that it is a matter of preference among users as to which they use. The Cash Receipts functionality is more journal like in its setup, while Deposits is simpler (header area and lines for details).
In my subjective opinion, I prefer Deposits: Imagine a scenario where you've got a handful of checks in front of you that you intend to deposit into your bank account. Total up your checks, fill in the Deposit header by identifying the Bank account you are depositing into, the total, the dimensions (if they apply to all lines; otherwise, you can do dimension assignments at line level). Then I fill in the lines by selecting Customer, amount, Check #, apply to invoices, and repeat the process until the total of my lines equals the total amount on my header. And the Deposit header tracks the totals and shows me when the header amount equals the lines' amount. Then I can safely post it, and on my way home, I can do the actual deposit. (Or if my actual deposit at the bank precedes my booking of it in D365, I can use my Deposit confirmation number as my Deposit number in D365; this requires allowing MANUAL numbers in the No. Series associated with Deposits).
It's easier to track real life deposits to the bank with deposits inside D365.
In Cash Receipts Journal, while I can post multiple entries at once from within a batch, each customer payment is recorded with a unique document number, and the only way I can see them all grouped together is by navigating to the G/L Register. Otherwise, I can only tell that they were posted on a certain date from a certain batch within the Cash Receipts Journal.
So, in my opinion, Deposits offer greater trackability than Cash Receipts Journal.