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Level 1

Undeposited Funds

My Undeposited Funds Account is showing a balance of 6400.00, but all funds have been deposited. How do I correct that and get it to 0.00?

Solved
Best answer February 25, 2020

Best Answers
Highlighted
QuickBooks Team

Undeposited Funds

Nice to meet you, @hftjm.

 

It sounds like you might have some data damage with your company file since all of the funds have been deposited. Don't worry. I've got you covered. We can use the Verify and Rebuild data tool to remove the damage from the company file. Here's how:

  1. Go to the File menu, then hover over Utilities and choose Rebuild Data.
  2. Select OK when on the QuickBooks Information window. Follow the on-screen instructions to save a backup.
  3. Give time for the tool to repair your file.
  4. When the tool finishes, Press OK.
  5. Go to the File menu, then hover over Utilities and pick Verify Data.
  6. The tool will now check for data issues.

Afterward, try to go back to the Undeposited Funds Account and see if the balance is still there.

 

Here are two extra links that can help you out in the future:

Touch base with me after trying these steps. I want to make sure that we're able to get this issue resolved. I'll be waiting for your response.

View solution in original post

5 Comments
Highlighted
QuickBooks Team

Undeposited Funds

Nice to meet you, @hftjm.

 

It sounds like you might have some data damage with your company file since all of the funds have been deposited. Don't worry. I've got you covered. We can use the Verify and Rebuild data tool to remove the damage from the company file. Here's how:

  1. Go to the File menu, then hover over Utilities and choose Rebuild Data.
  2. Select OK when on the QuickBooks Information window. Follow the on-screen instructions to save a backup.
  3. Give time for the tool to repair your file.
  4. When the tool finishes, Press OK.
  5. Go to the File menu, then hover over Utilities and pick Verify Data.
  6. The tool will now check for data issues.

Afterward, try to go back to the Undeposited Funds Account and see if the balance is still there.

 

Here are two extra links that can help you out in the future:

Touch base with me after trying these steps. I want to make sure that we're able to get this issue resolved. I'll be waiting for your response.

View solution in original post

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Level 1

Undeposited Funds

Thank you very much. That fixed the problem, but I have another problem. I am showing -12,363.98 in Accounts Receivable, but my open balance on invoices is 6,264.00. Any ideas on that?

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Moderator

Undeposited Funds

Hi, hftjm.

 

These negative amounts are usually caused by Credit Memo entries, over-payments, or possible duplicate payments. 

 

If these are deposits, the best way to remove them is to apply these as a credit to an invoice. Here's how:

 

  1. Go to the Customers menu, then select Create Invoices.
  2. Choose the customer from the Customer: Job drop-down.
  3. Enter the necessary information.
  4. Click Apply Credits.
  5. Hit Yes to confirm the changes.
  6. In the Apply Credits window, select the deposit from the Credits tab. (Make sure the amount is the same with the invoice)
  7. Click Done. (The invoice will be marked as paid)
  8. Hit Save & Close to save the invoice.

 

Once done, you can now review the Accounts Receivable if the negative amounts are already removed.

 

You can refer to these articles to learn more about Accounts Receivables in QuickBooks Desktop:

 

Feel free to get back to me if you need more help with QuickBooks invoices. I'd be happy to help.

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Level 1

Undeposited Funds

I have the same problem in QB online.   What is the process in this case.

 

 

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QuickBooks Team

Undeposited Funds

Hey there, @dede5674

 

Thanks for joining in on this thread. There are some different troubleshooting steps that you can take to help fix this balance problem within your QuickBooks Online (QBO) account. 

 

Using a private browser or incognito window can help remove any errors or glitches that may be occurring in your product. Here's how: 

 

  • Internet Explorer/Firefox: Ctrl Shift 
  • Google Chrome: Ctrl Shift 
  • Safari: Command Shift 

 

If this works, then go back to your regular session and clear your browser's cache and cookies. If this doesn't work, then I suggest using a different browser. 

 

Let me know if this does the trick. I want to make sure all of your concerns are addressed. Take care! 

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