The Deposits / Charges function is used to post:
•Bank deposits
•Service charges
•Interest earned
•Miscellaneous banking activity
MLS 2026 automatically updates:
•bank balances
•General Ledger activity
•account totals
during processing.
This provides accurate financial tracking while reducing manual bookkeeping work.
Accessing the Posting Screen
To post banking activity:
1.Open the:
oBank Menu
2.Select:
oDeposits / Charges
The posting window will appear.
Purpose of This Function
This option is typically used for:
•Daily bank deposits
•Bank service fees
•Interest income
•Miscellaneous adjustments
•Manual banking corrections
Because these transactions affect both:
•the Bank Account
and
•the General Ledger
MLS 2026 automatically creates the required accounting entries.
Selecting the Bank Account
Before posting activity, MLS 2026 must know:
👉 which bank account is being affected.
Enter the:
•Bank Code
or use the:
•lookup button
to select the desired account.
Once selected:
•the account information will appear automatically.
Entering Deposits or Charges
After selecting the account:
•Enter the amount of the deposit or charge
•Enter the deposit slip number or reference
•Enter a description or income source if desired
•Verify or enter the transaction date
The current date is displayed automatically but may be changed if necessary.
General Ledger Posting
MLS 2026 displays the default General Ledger accounts associated with the transaction.
You may:
•accept the defaults
or
•override them with different accounts
if appropriate.
Account Validation
The system automatically checks:
•whether the account exists
•whether the account number is valid
•whether the account category is appropriate
If an invalid or questionable account is entered:
👉 MLS 2026 will automatically display the Chart of Accounts for selection.
⚠️ Important:
The system still allows advanced users to:
•post Credits to Debit accounts
•post Debits to Credit accounts
when necessary for corrections or special accounting procedures.
Saving the Transaction
Once all information is entered:
Select:
•Save
MLS 2026 will then:
•apply the transaction to the bank account
•update the current balance
•create General Ledger entries
•update transaction history
Typical Posting Behavior
Bank Deposit
A deposit usually posts as:
Bank Account (Debit)Income or Source Account (Credit)Bank\ Account\ (Debit) \\ Income\ or\ Source\ Account\ (Credit)Bank Account (Debit)Income or Source Account (Credit)
This:
•increases the bank balance
•records the source of funds
Bank Service Charge
A service charge usually posts as:
Bank Fee Expense (Debit)Bank Account (Credit)Bank\ Fee\ Expense\ (Debit) \\ Bank\ Account\ (Credit)Bank Fee Expense (Debit)Bank Account (Credit)
This:
•records the expense
•reduces the bank balance
Interest Earned
Interest income usually posts as:
Bank Account (Debit)Interest Income (Credit)Bank\ Account\ (Debit) \\ Interest\ Income\ (Credit)Bank Account (Debit)Interest Income (Credit)
This:
•increases the bank balance
•records earned income
Helpful Tips
•Enter deposits promptly
•Record service charges when statements arrive
•Verify G/L accounts before saving
•Use meaningful descriptions for future reference
•Reconcile bank accounts regularly
Common Uses
Typical examples include:
•Daily deposit slips
•Bank fee deductions
•Interest income
•Wire transfer fees
•Merchant account deposits
•Miscellaneous banking adjustments
Important Operational Note
Banking activity directly affects:
•cash balances
•financial statements
•the General Ledger
Accurate posting is critical for:
•reconciliation
•reporting
•tax preparation
•financial analysis
Recommended Companion Sections
This section works closely with:
•Bank Reconciliation
•Writing Checks
•General Ledger Posting
•Bank Reports
•Default G/L Accounts
•General Ledger Analysis
Together, these sections provide a complete banking management workflow within MLS 2026.