If you use a separate bank deposit book (as opposed to writing up the deposits in the back of your cheque book) keep your bank deposit book here.
If you use a single bank deposit slip each time, file the bank printout here.
It may be useful to use a deposit slip, which identifies the purpose of the deposit, and any GST collected. (Useful templates).
You can use the deposit form together with the Invoices you send out to complete the Cash Receipts journal. (For a sample Cash Receipts journal page, go here.) For a full explanation of how to record your deposits for GST, download the ATO booklet on Keeping Records from here. (PDF format, 660kb.)
You must reconcile the records of your bank deposits with the credits on your bank statements.
You should also match the deposits with the income which should be reflected in receipts you issue or invoices you send out.
If you receive income by credit card transactions, then you need to file a copy of your merchant summary and merchant copies of the transactions.
A Note About Cash
Some organisations receive cash from their clients (as fees) or as
reimbursement from staff (eg for private use of the photocopier or phone), or from the public through sales (eg publications) or donations.
It is critical for the organisation's viability, reputation, and accountability that all cash receipts and expenditure are accounted for with proper documentation (cash is formally received). This may also include a rule where two people must be present when cash is received or distributed. Where there is cash being spent or distributed, a similar procedure should be followed where two people from the organisation are present, and that a receipt is received - wherever possible - by the person receiving the cash. If possible, Petty Cash procedures should apply in order to account for the purpose of the funds.
Cash receipts and expenses should be clearly identified in the Cash Receipts journal and payments, and should eventually be marked off in the Bank Reconciliation.
The practice of keeping income cash in a draw to pay out petty cash or other disbursements should be actively discouraged.