Choosing the Best Deposit Method for Your Organization

Objective

This article explains the differences between net deposits and gross deposits, helping you decide which method is best for your organization.

💡 Why Choose the Right Deposit Method?

Selecting the appropriate deposit method ensures efficient financial management and accurate reporting. It helps streamline your accounting processes and provides clarity on your organization’s income and expenses.

Types of Deposits

Net Deposits

With Net Deposits, administrative fees are automatically deducted before funds are deposited into your account. This reduces the workload for your team, as you don’t need to worry about paying an additional monthly bill for administrative fees.

Net Deposit Reporting:

• Your bank statements show the amount received after administrative fees are removed, providing a more accurate reflection of your true income.
• Deposit reports (batch reports and batch details) show:
• Gross amount received
• Fee withheld
• Net amount deposited into your bank account

Gross Deposits

If you opt for Gross Deposits, Payment Brands will deposit the total funds paid to your account, and you’ll be billed separately for administrative fees. Some organizations choose this option because it better matches their accounting processes.

Gross Deposit Reporting:

• Your bank statements show the total funds received, but administrative fees have not yet been paid.
• Gross deposit reports accurately reflect the total deposited into your bank account.

Administrative Fee - Billing Reports

Since administrative fees are not deducted from the deposit, they must be paid separately. The fees will be automatically debited from your organization’s payment source on file. Billing runs between the first and fifth of the month.

How to Review Debit Amounts:

1. Click Reports, then Deposits on the left-hand navigation menu.
2. At the top of the Deposits page, click the Billing tab.
3. Filter by specific time frame and depository bank account if you have more than one.

💡 Note: Due to cutoff times set by our payment processor, some transactions from the first couple of days of the current month might appear on the previous month's billing statement.

Have Questions or Need Help?

If something isn’t working right, we’re here for you!

• Technical Support: Available Monday–Friday, 8 AM–5 PM CST.
• Product Help: Visit the Help Center or click the question mark icon in the product for tutorials and step-by-step instructions.
• 24/7 Chatbot Support: Our Help Center chatbot can answer common questions any time—day or night.
• Personalized Support: Contact the Sales Team at sales@ministrybrands.com for guided help through our paid services.

💡 Pro Tip: Many answers can be found for free in our Help Center—no need to wait!

Updated May 08, 2025 00:23