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Level 1

bank deposits

In Quickbooks Premier Plus Desktop I have a company that only has one deposit a week for one customer that IS NOT INVOICED.  How do I enter this income by job and deposit it.  Everything I look at says Undeposited Funds Account and instructions for Online - I have the Desktop.  I am getting very frustrated with this.  Also I have entered a purchase of tools and it is not showing up in my chart of accounts for tools and equipment why?

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Best answer March 19, 2020

Best Answers
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QuickBooks Team
QuickBooks Team

bank deposits

Welcome to the QuickBooks family. Let me help you record the bank deposits into your account, 6830.

 

You're doing a great job by entering the transactions as sales receipt as recommended by john-pero. The transactions will be posted to the Undeposited Funds account one you received the payments from your customers (as shown in the screenshot below).

 

undeposited.PNG

 

To deposit the sales receipt directly to your bank account, we can go to the Preferences page. Then, uncheck the Use Undeposited Funds as a default deposit to account option.

 

Here's how:

 

  1. Got to Edit on the top menu.
  2. Choose Preferences.
  3. Tick Payments.
  4. Select Company Preferences.
  5. Uncheck the field for Use Undeposited Funds as a default deposit to account.
  6. Tap OK.

preferences1.PNG

Once done, go back to the Sales Receipts transactions and choose the bank account by ticking the Deposit To field. 

 

receipt1.PNG

 

To learn more about recording bank deposits, please refer to Record and make Bank Deposits in QuickBooks Desktop article. 

 

If there are duplicate bank deposits, you can delete them in your register. Just follow the steps in this article: Remove duplicate transactions in QuickBooks Desktop.

 

I have a link here where you can find articles about managing your business in QuickBooks: https://quickbooks.intuit.com/learn-support/en-us/get-started/07?product=QuickBooks%20Desktop. Then, choose a topic in the Subtopics section to see the articles you need. Some of them have video tutorials that can help you with the steps.

 

Please reach out to me if  you need a hand with reconciling your bank account. I'll be here to be your number one resource for QuickBooks. Take care always.

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3 Comments
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Community Champion

bank deposits

You can use a Sales Receipt for that customer and even memorize it to be recurring. By default the implied payment will post to Undeposited Funds . Create z Deposit and you can select the payment to be included.

 

As far as your purchase not showing it could be different reasons. Is it entered as a bill but unpaid? Did you enter it as an Item and the Item posts to a different account than Tools or wherever you want? Did it post as a fixed asset-tools. If so it will not yet be an expense

Highlighted
Level 1

bank deposits

I entered as a sales receipt - maybe I did it wrong and nothing is in the undeposited funds account it is in the checking account - does that mean it was deposited?  Also can you tell me where to find DESKTOP training videos I do not know Quickbooks I used Sage 50.

Highlighted
QuickBooks Team
QuickBooks Team

bank deposits

Welcome to the QuickBooks family. Let me help you record the bank deposits into your account, 6830.

 

You're doing a great job by entering the transactions as sales receipt as recommended by john-pero. The transactions will be posted to the Undeposited Funds account one you received the payments from your customers (as shown in the screenshot below).

 

undeposited.PNG

 

To deposit the sales receipt directly to your bank account, we can go to the Preferences page. Then, uncheck the Use Undeposited Funds as a default deposit to account option.

 

Here's how:

 

  1. Got to Edit on the top menu.
  2. Choose Preferences.
  3. Tick Payments.
  4. Select Company Preferences.
  5. Uncheck the field for Use Undeposited Funds as a default deposit to account.
  6. Tap OK.

preferences1.PNG

Once done, go back to the Sales Receipts transactions and choose the bank account by ticking the Deposit To field. 

 

receipt1.PNG

 

To learn more about recording bank deposits, please refer to Record and make Bank Deposits in QuickBooks Desktop article. 

 

If there are duplicate bank deposits, you can delete them in your register. Just follow the steps in this article: Remove duplicate transactions in QuickBooks Desktop.

 

I have a link here where you can find articles about managing your business in QuickBooks: https://quickbooks.intuit.com/learn-support/en-us/get-started/07?product=QuickBooks%20Desktop. Then, choose a topic in the Subtopics section to see the articles you need. Some of them have video tutorials that can help you with the steps.

 

Please reach out to me if  you need a hand with reconciling your bank account. I'll be here to be your number one resource for QuickBooks. Take care always.

View solution in original post

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