How do I correct the Balance Sheet total in Undeposited Funds without making a deposit? Everything to be deposited is correct. but the account total is wrong.

Hi, ATWS-Bookkeeper.

Let's identify what's causing your undeposited funds to show incorrect amounts in your Balance Sheet total.

Please note that reports in QuickBooks Online (QBO) reflect the transactions recorded in your account. Since the individual items waiting to be deposited are correct, but the Balance Sheet total shows -$588.16 instead of $50.40, there are likely transactions in the Undeposited Funds account causing the $638.56 discrepancy.

To verify this, you can directly click the Undeposited Funds amount in your Balance sheet report to display the breakdown of transactions that comprise it.

Here's how:

1. Navigate to the Reports menu, then Standard reports.
2. Type in and enter Balance Sheet in the search dropdown.
   
   
3. Select your intended Report period and Customize as needed.
4. Scroll down to locate the in the report.
   
   
5. Click on the -$588.16 amount; this will open a detailed Transaction Report.

Once you open the Transaction Report for Undeposited Funds, check for duplicate, incorrect, or unusual transactions. Look for payments that could have been entered incorrectly or already deposited but not cleared from Undeposited Funds.

After identifying the transactions causing the balance discrepancy, you can then take appropriate action to fix them, such as deleting or editing those transactions correctly.

If you have any more questions or need further assistance, please don't hesitate to ask.