cancel
Showing results for 
Search instead for 
Did you mean: 
HFM
Level 1

reconciling undeposited funds

To set the scene: I am reconciling my accounts for tax purposes. On the balance sheet standard report there is a large sum showing on the Undeposited Funds asset line, which I believe should be zero.  I always "group received payments with undeposited funds" and then make deposits to my banking account from the undeposited funds account. My banking account is reconciled for the year, and if I open the "make deposits" window, there is nothing in Undeposited Funds.  Any insights on where to look for these mystery funds? I have not encountered this in past years, and am hoping not to pick through every payment received last year! Thanks!

 

Solved
Best answer February 25, 2019

Best Answers
SkinnyRaven
Level 8

reconciling undeposited funds

Confirm from your chart of accounts that you only have one UF account.

View solution in original post

1 Comment 1
SkinnyRaven
Level 8

reconciling undeposited funds

Confirm from your chart of accounts that you only have one UF account.

View solution in original post

Need to get in touch?

Contact us
Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up