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September 19, 2020
Question

How to get undeposited funds cleared with downloaded bank deposits

  • September 19, 2020
  • 1 reply
  • 4 views

I have QB Online and Recently downloaded my bank account into it. I also had synced my old QB with it.  What I didn't do was update past customers payments and clear the deposits... Now my books online are showing where i deposited them, but they are still in my undeposited funds. The amounts are right, but how do I clear them off my undeposited funds so they don't show.?? I'm a carpenter not an accountant, so fair warning.. Thanks for any help..

1 reply

JasroV
Level 8
September 19, 2020

Thanks for sharing the details with me, @cliffc, and congrats in connecting your bank to QuickBooks Online (QBO).

 

I’d be glad to guide you on how to clear your Undeposited funds with your downloaded bank deposits. To do so, you’ll need to deposit the funds and match it with the deposits. Let me show you how.

  1. Go to the + New menu and select Bank deposit.
  2. From the Account drop-down menu, select the account you want to deposit the money.
  3. Select the box for each payment you want to deposit.
  4. Click Save and close.

I got you this article for reference in making a deposit in QBO: Record and make bank deposits in QuickBooks Online.

 

Once you’ve deposited the funds, you can now match it with your downloaded deposits. Here’s how.

  1. Go to the Banking or Transactions menu.
  2. Select the Blue tile for the account you want to review.
  3. Click the For review tab.
  4. Locate and select the deposit to expand the view.
  5. Thick the Find match and select the transactions you want to include to the deposits and click Save

You can also use this article for more details in matching transactions in QBO: Categorize and match online bank transactions in QuickBooks Online.

 

Let me also add this link that you can utilize in when you’re ready to reconcile your accounts: Reconcile an account in QuickBooks Online.

 

In case you have any other concerns or questions about QBO, you can always leave a reply in this thread. I’m just a post away from you. Have a great day ahead!