How can you edit Undeposited funds account to change to "Detail Type" in quickbooks online? It won't allow me to change it from "Current Asset"

Forum|Forum|5 years ago
January 26, 2021
1 reply
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QuickBooks Online

MaryLandT

Level 10

I can tell why you're unable to change the detail type of the Undeposited Funds account, userp-byrd.

The Undeposited Funds Account is an internal “other current asset account” created by QuickBooks. It holds funds until you are ready to deposit them. Hence, you're unable to change the detail type.

It serves as the default 'deposit to' accounts when you receive payments and bank deposits to complete invoicing process.

Check out this link for more details: What’s the Undeposited Funds account?

Learn more about setting up accounts through this article: Add an account to your chart of accounts in QuickBooks Online.

Let me know if you need anything else with QuickBooks Online. I'm always around to help manage your bank register.

userp-byrdAuthor

I understand the purpose of Undeposited Funds account. When I receive payments for invoices the payments go to undeposited funds. However, I am unable to select from there the items I want to deposit. I reading some forums online, one person had same problem and was told to correct the "Detail Type" in the account set-up to Undeposited Funds. Mine says "Current Asset" and it won't allow me to change that. Once that was corrected for her, she was able to make deposits from her undeposited funds account.

userp-byrdAuthor

Something’s not quite right

You cannot change the detail type of an account to "Undeposited Funds" or change an "Undeposited Funds" account to another detail type.

The above is what I see when I try to change the "Detail Type" in the Undeposited Funds account set-up.

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