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Intuit

How to record bank deposits

How you record a bank deposit in QuickBooks Online depends on how your transactions were entered:

  • If you deposit customer sales transactions to Undeposited funds, the Bank Deposit screen displays the Select the payments included in this deposit section, containing a list of customer payments you can include in the deposit. This lets you group payments together for a batch deposit. This section appears only if you select Undeposited Funds as the Deposit to account for customer sales transactions.

  • If you use QuickBooks Payments, the Bank Deposit screen displays the QuickBooks Payments section, containing a list of pending payments. The QuickBooks Payments section appears only if you are waiting for a customer payment to settle. You do not have to do anything with these payments. Settled payments are automatically added to a deposit transaction and deposited by QuickBooks Payment.

Record a deposit

  1. Select the Plus icon (+) on the Toolbar.
  2. Under Other, select Bank Deposit.
  3. In the Choose an account field, select the bank account to which to deposit funds.
  4. If available, select the checkboxes of the transactions to deposit in the Select the payments included in this deposit or QuickBooks Payments sections.
  5. In the Add funds to this deposit table, enter information about any additional items to include in this deposit, including who the item was Received From, the Account, Payment Method, and Amount of the item.You can also use this section to account for processing fees by adding the fee as a negative amount. (Note: If you select an Other Current Assets account with Detail Type Stock as one of these accounts when entering a supplier refund, you will get a Select a non-stock account for your deposit error message.
  6. If you will receive cash back from this deposit, select Petty cash (or the account you use to track cash on hand) in the Cash back goes to field, enter any Memo, and specify the Cash back amount. (See How to set up petty cash for more information.)
  7. (Optional) Select Print to print the deposit slip before saving.
  8. Select Save and close or Save and new.

If you are unable to delete a transaction that has been deposited, you can locate and modify the deposit from the Deposit Detail report.

Now you know how to record bank deposits.