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HFM
Experienced Member
Solved

reconciling undeposited funds

To set the scene: I am reconciling my accounts for tax purposes. On the balance sheet standard report there is a large sum showing on the Undeposited Funds asset line, which I believe should be zero.  I always "group received payments with undeposited funds" and then make deposits to my banking account from the undeposited funds account. My banking account is reconciled for the year, and if I open the "make deposits" window, there is nothing in Undeposited Funds.  Any insights on where to look for these mystery funds? I have not encountered this in past years, and am hoping not to pick through every payment received last year! Thanks!

 

Best answer 02-25-2019 07:45 PM

Accepted Solutions
Established Community Backer ***

Re: reconciling undeposited funds

Confirm from your chart of accounts that you only have one UF account.

1 Comment
Established Community Backer ***

Re: reconciling undeposited funds

Confirm from your chart of accounts that you only have one UF account.