Hello. Why do I have an amount allocated to the uncategorised income account at the month end, after all products and services have the income account selected to sales?

Let me help you fix the uncategorised income account issue, Fe.

The way QuickBooks downloads depend on how you tell to categorise transactions. When banking transactions are downloaded, QuickBooks can't always figure out how to categorize the transaction. In this case, QBO assigns the Uncategorized Income account to amounts received and the Uncategorized Expense account to amounts paid.

Since all your bank transactions have already been matched, these may be duplicates. To fix these, double-check again all your transactions. And if these are confirmed to be duplicate transactions, you can exclude them. To do so follow the steps provided below:

1. Go to Transactions and select Bank transactions .
2. Select the For Review tab.
3. Select the checkbox of the transactions to exclude.
4. Select Exclude.

The transaction moves to the Excluded tab of the Bank transactions page. However, I still recommend reaching out to your accountant for other ways how to fix the uncategorised issue or if a journal entry is necessary instead of excluding the transaction.

Furthermore, learn how you can customize reports to double-check your data and ensure you'll get the right information. I've got this article for more details: Customise Reports In QuickBooks Online.

I'm just a post-away if there's anything that I can help. Keep safe!

Thanks for your answer. What’s the best way to check for duplicates, in this case? What about the Undeposited Funds Account having an amount in it, after all bank reconciliation has been done? Could it be duplicates as well?

Thank you for posting your thoughts, feprimafi. The best way to check for duplicates in this case would be to carefully review your transaction records and look for any entries that appear more than once. Let me chime in and drop some insights about this matter. 

When banking transactions are downloaded into QuickBooks Online, QBO can't always figure out how to categorize the transaction. In that case, QBO assigns the Uncategorized Income account to amounts received and the Uncategorized Expense account to amounts paid.

Furthermore, reconciling undeposited funds in QuickBooks Online involves a series of steps to ensure alignment between recorded transactions and actual bank deposits. The process includes:

• Reviewing the undeposited funds account
• Comparing it to bank deposits
• Making necessary adjustments
• Finalizing the reconciliation based on the bank statement
• Comparing transaction dates, amounts, and other relevant details to identify any potential duplicates.

This process starts by accessing the undeposited funds account in QuickBooks Online to gather all transactions that should have been deposited into the bank.

It's important to review the Undeposited Funds Account and compare them with your bank deposits to ensure that each transaction is being properly accounted for. It can help identify any duplicates or discrepancies that may be causing the bank and QuickBooks balance.

Additionally, if you may want to run the report for accounts under the Chart of Accounts, please refer to these relevant resources for your guide:

• Run reports in QuickBooks Online.
• Customise reports in QuickBooks Online.

Please know that we are here willing to assist and guide you with you bank transaction in QuickBooks Online. Share something in this thread. Have a great day. 

Ok, thanks.

Good day, feprimafi.

I'm glad to hear that my peer was able to help address your concern. It's always a relief when a situation like this gets sorted out efficiently. If you have any other questions or need further assistance, feel free to ask.

Have a great day and keep safe always, feprimafi.