There was an Invoice dated 9/14/18 amounting to $595.00 and was paid (based on QuickBooks) on 09/17/18. I cannot see any deposit record for this in Quickbooks. But I have seen the deposit in the bank statement dated 09/19/18.
Can you help me how to record this properly? Thank you
Hi there, @vaolivas051909.
It's nice to see in the Community. I'd be happy to help walk you through recording the deposit in QuickBooks Online.
To start, let's check the payment transaction journal to verify where the payment was deposited. If it's posted to your bank account, no need to make a deposit because the payment was automatically transferred to the bank account you specified. However, if it's posted to the Undeposited Funds account, you need to deposit the payments to the Bank Deposit screen.
If it shows Undeposited Funds, please refer to the steps below to record deposit to the correct account:
I've also attached this article for additional reference: How to record bank deposits.
That should take care of it. I believe that you'll have the payment deposited to the correct account in just a few clicks.
Stay in touch if you have any additional question about this or if you have any other questions while working with QuickBooks.I'll be happy to help you out.
Thank you but it is a debit of Accounts Receivable account. Please check the attached screenshot. But in the Balance Sheet, it shows that it is Undeposited Fund. It is the only transaction that is under Undeposited account and the amount is already in the Bank Statement.
It's good to see you again here in the Community, vaolivas051909,
I'd be happy to help share some information about receiving invoice payment in QuickBooks Online.
Upon creating an invoice, the Accounts Receivable (A/R) will increase (debit) and Sales account will also increase (credit) which is shown on the screenshot that you've provided.
In your case, upon receiving payment the payment was deposited to Undeposited Funds (debit) which makes the Accounts Receivable decrease (credit).
Since the payment was deposited to Undeposited Funds account, then that is the reason why upon running the Balance Sheet report it is link to the Undeposited Funds.
If you'd wish to transfer the payment to the specific bank account, then you can do Bank Deposit. Here's how:
By following the steps above, you're now able to post the payment to the correct bank account
If you have further questions in managing your transactions, please feel free to visit the Community again. Have a great day!