Learn how to combine multiple transactions into a single record to keep QuickBooks in sync with your bank deposits.
When you deposit money at the bank, you often deposit money from multiple sources all at once. If you recorded each payment individually in QuickBooks, they won’t match your deposit. That’s because your bank usually records all the payments you deposited as a single record with one total.
But don’t worry, QuickBooks has a special way for you to combine everything so your records match your bank deposit total. Put transactions you want to combine into your Undeposited Funds account. Then record a bank deposit to combine them.
Here’s how to track bank deposits in QuickBooks. Or learn more about bank deposits in QuickBooks Online first.
If you haven’t already, put the invoice payments and sales receipts you want to combine into the Undeposited Funds account. This account holds transactions before you record a deposit.
|Do you use QuickBooks Payments?
If you do, QuickBooks takes care of everything for you. Once payments are processed, QuickBooks moves the transactions into your accounts. You can see your pending payments on the Bank Deposit screen.
However, if you ever need to combine payments received outside of QuickBooks Payments, you’ll make a Bank Deposit using the steps in this article.
Each bank deposit creates a separate record. Make deposits one at a time for each of your deposit slips.
|Important: All transactions currently in your Undeposited Funds account appear in the Bank Deposit window. If you don’t see one you need to add, put it in the Undeposited Funds account.|
Some banks tack on service charges and processing fees. No need to edit the original transactions in QuickBooks. Instead, you can add the fee in the Bank Deposit window:
|Tip: If you don’t have a Bank Charges account, here’s how to create one:
To see past deposits and the transactions you combined:
The report lists all your completed bank deposits. You can select individual deposits to get more details.
If you want to remove a specific payment from a deposit:
The payment will go back to the Bank Deposit window. You can add it to another deposit.
If you need to start over and delete an entire bank deposit:
All payments on the deposit will go back to the Bank Deposit window. You can start over and create a brand new deposit.