Help needed with Undeposited Funds shown in the incorrect position on the Balance Sheet

CraigD1 · ‎December 28, 2019

I have a set of virtual bank accounts set up for each of the two directors which are used to record expenses paid by the individual director throughout the month as an expenses claim. these are then zeroed off at the end of each month by transferring them to a directors loan account.

From the directors loan account the expenses are either paid back to the individual or remain in the account recorded as a loan depending on the current cash flow of the business. I recently added another level for to the virtual bank accounts, to add clarity when reporting, going from two hierarchical levels to three.

Since the 3rd level was introduced, the undeposited funds are shown under one of the levels for one of the directors. higher up on the balance sheet there is still an empty header for undeposited funds. I have tried verifying and rebuilding the data which hasn't resolved the problem. Can anyone offer some advice?

Adrian_A · ‎December 28, 2019

Thanks for the details, CraigD1.

I appreciate you for trying to fix this issue by doing the verify and rebuild steps. Let's review the director's loan account to check and see what undeposited account is being used. Let me show you how:

Click the Reports menu.
Select Company & Financial, and then Balance Sheet Detail.
Filter the Dates if needed.
Look for the director's loan account.
Double-click a transaction.
Verify if the undeposited account used is correct.
Click the (X) exit icon to go back to the Balance Sheet window.

You can also use these screenshots to guide you further:

I've also shared these articles for more details about the undeposited account:

If you still have other concerns with the undeposited funds account, please let me know. I'm here to help you.

CraigD1 · ‎December 28, 2019

Adrian Thanks for the quick response

The problem is the display of the data with regard to the undepostied funds.

The reside in the balance sheet under undeposited funds and there is an entry showing no transactions and zero balance.

futher down mixed with the directors virtual cash accounts it shows the transactions. I will try and upload some screen shots to show you

Adrian_A · ‎December 28, 2019

Thank you for the screenshot, CraigD1.

At this time, it would be best to contact our Phone Support team. Since I'm unable to take a look at your company file, our phone team can investigate why there are transactions showing zero balance. Here's how:

Click the Help menu, and then select QuickBooks Desktop Help.
Click the Contact Us button.
In the tell us what's wrong box, enter Entry showing zero balance.
Click Continue.
From there, you can Start messaging or Get a callback.

You can also check this article to know when our Phone Support team is available:Support hours and types.

I'm just around the corner if I can be of any help.

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Help needed with Undeposited Funds shown in the incorrect position on the Balance Sheet