Lynda ArtesaniLegal Accountant and Data Migration Specialist at The Proper Trust

How well are you tracking deposits?

7 May 2024 · 1 min

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In this informal conversation, Speaker A recounts the tedious, end‑of‑year “forensic” reviews they performed to reconcile tiny deposit amounts—spending hours tracking down where a $5.86 came from and where it went. The process felt like a criminal investigation, highlighting how poor deposit tracking can consume valuable time. Speaker B validates the experience, and Speaker A shares the practical solution they adopted: taking a picture or scanning every deposit slip and accompanying check as soon as it arrives. By creating a visual record, future reconciliations become quick and painless, eliminating the need for exhaustive year‑end audits.

Chapters

spending hours at the end of the year trying to figure out deposits because I was good but not great about tracking how I was doing deposits. And sometimes I didn't totally account for where some money was going. And I remember that. We would do these forensic reviews. I mean, it was a full-on, like, almost like a criminal forensic review of my accounts, trying to figure out like where these— where this like $5.86 came from and where did it go to. We always unwound it. It was, it was fun to do, but it took hours.
Thank you for validating us because we seem crazy and we're not.
No, it's, I mean, it was like you only have to do that once to then be like, okay, I'm gonna take a picture or, you know, scan in every single deposit slip and every check that's going in with it. So because there's so much happening.