Definition
A deposit is money added to an account, such as a paycheck, customer payment, cash deposit, or transfer from another account. A deposit increases the balance of the account receiving the money, while a withdrawal decreases it.
Why It Matters
Recording a deposit correctly helps you understand where your money came from and keeps your account balances and reports accurate.
For example, a paycheck may be recorded as income, while money moved from savings to checking is a transfer — not new income. Some deposits may also combine several payments into one Bulk Deposit, which requires additional tracking so your records match what the bank shows.
How This Works in Quicken
Deposits appear as transactions in your account register. They may be downloaded automatically from your financial institution or entered manually.
How you categorize or record the deposit depends on what the money represents, such as income, a customer payment, or a transfer between accounts.