End of Day Steps for Desktop Deposit

End-of-Day Steps and Reports for Desktop Deposit

1. After balancing your check total to your systems check total, DEPOSIT each check batch individually on the WF Desktop Deposit screen. (After depositing the last batch, double-check that there are no more batches listed under Pending Deposits).  Possible Error Notes: i. Duplicates – Verify Duplicates – If you get this error message, it is telling you that the WF system thinks you may have a duplicate check. This sometimes happens when you accept counter checks [checks without ck#’s]. When you get this error, you will need to look at the two checks and determine if they are indeed duplicates. If not, you can tell the system that they are not duplicates and to ignore the warning. If they are duplicates, you will need to review that deposit for other errors and make whatever adjustments are necessary before depositing the batch ii. Batch does NOT Balance – If you get this error message, the system is telling you that the individual check amounts do NOT add up to the total you entered for the batch and therefore it cannot be deposited. You will need to Review the items in the batch to determine what the error is. Note: Double check the total you entered for the batch first in case that is the problem…before you look at each individual check entry.

2. After all batches have been deposited, create the WF Bank Deposit Report (CSV format) using the “Create Report” menu item on the WF Desktop Deposit screen [left side of screen] --Enter the current date as both the from & to dates)

3. Format the report for currency, and get a Grand Total of the check batches listed.

4. Make sure that the WF Bank Report total and the total listed on your Deposit Log match –They MUST match. (if they are off, one thing to check first is that if there were any manual deposits, that they are not included in your Deposit Total on your Deposit Log.)

5. Save the electronic copy of the WF Bank Report (into a folder you save online). When saving you will need to change the file type to Excel. If you want, you can Print out a hard copy of the WF Bank Deposit Report to keep for your records.

6. Binder the checks and put them in a vault/safe/locked desk drawer. The checks need to be kept for 2-3 weeks (in a secure location) and then they need to be confidentially shredded (you can use a confidential shredding service or you can shred them yourselves with a cross-cut shredder.) They are saved in case there is any image quality issues with the electronic deposit, in which case you will be notified by the Office of Investments & Banking (OIB).