Combine undepositied funds and bank feeds

Thanks for coming here to share your concern. mechman29.

Adding transactions instead of matching them will create duplicate entries. Let's fix this by clearing the duplicate transactions from your Bank Feeds Center in QuickBooks Desktop (QBDT). You have the option to exclude those transactions so you can still have them at a later time or permanently delete them.

Here's an article that provides a complete insight on how to handle duplicate transactions in QBDT: Remove duplicate transactions in QuickBooks Desktop

You may also want to learn how to download, add, and match bank transactions, you can check this helpful article for reference: 

• Download Bank Feed transactions in QuickBooks Desktop.
• Add and Match Bank Feed Transactions.

I've added this article for other reports available in QBDT that will help identify transactions that were modified in case you find any discrepancies: Fix Reconciliation Discrepancies.

Feel free to reach out to us if you need further assistance while reconciling accounts in QuickBooks Desktop. We're always here to help you.

Hi, mechman29.

Hope you’re doing great. I wanted to see how everything is going about combining deposited funds and bank feeds. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.

Looking forward to your reply. Have a pleasant day ahead!

Hi Charles, 

I am working on that tonight. I'll let you know. I haven't had time to try and fix it. Sorry for the delay. 

Hi Charles, 

Maybe I'm missing the point of those articles. Maybe I'm not understanding this correctly. We'll see. Let me explain this again, and maybe you can expound on this a bit for me. I don't think we are talking about the same thing. Unless, you are telling me to go back, and delete the entries in my register that I downloaded from my bank. Please read this again. 

If you look at my screen capture I am providing, I think this may clear up what I'm trying to accomplish. 

As I said before, when I get my bank feeds, there isn't a problem. I have my rules set, it puts them in the register just fine when I approve them. None of that is an issue. I understand how to do that and it isn't a problem. Even making custom rules. I understand that. The issue I have is when my Quickbooks Point of Sale, at the end of the day when I Z-out my drawer, reports to Quickbooks Desktop the sales that are from that day. Both credit card and cash. Quickbooks desktop puts those sales in the "undeposited funds" account, as it should. 

After I deposit real money, from my cash drawer into my real bank, I go and get my bank feed. That will pull in my deposits, place them in the bank feeds window, and after I have looked them over and make sure they are all matched up to the correct account, I put them in the register. I know how to do that. What I am having an issue with is matching the undeposited funds from my Quickbooks Point of Sale, to the bank deposits already in my register from when I downloaded the bank feed. Does that make sense? If not, I can give you a blow by blow walk through of what I do. 

When I go through the undeposited funds, and place those funds to the correct date for those transactions, I get a duplicate deposit that is the exact same from the bank feed. Take a look at the picture I am providing. As you can see, on the left side of the picture, highlighted, under the "Record Deposits" is from the Point of Sale. That is where it puts the undeposited funds. On the right side of the picture, I have highlighted and numbered the entries AFTER I have downloaded my bank feed, approved what I seen, and have QuickBooks make the entries. THEN I go to the "Record Deposits", that opens the "Make Deposits" window, I select all the transactions for a specific date under the "Payments to Deposit" window. After hitting OK, I select the date that the deposit was recorded at the bank in the "Make Deposits" window, and deposit it. THAT is how I'm getting duplicate deposits. 

So, my question is, do I delete the deposit from the bank? Because if I delete the deposit from the "Record Deposits" window, it just goes back into the Undeposited Funds. OR, do I combine them. And HOW do I combine them. Those articles you sent me to, from what I can gather, unless I'm wrong, Just tell me how to record deposits I get from my bank feeds, which I already know how to do. 

I hope I explained that well. 

Thanks for your help. 

Hi there, @mechman.

You're right about putting the imported transactions from POS to Undeposited funds.

Currently, this is the only option to match multiple transactions to bank deposits in QuickBooks Desktop. You can refer to the transactions to be matched through their date. This is how to do that.

1. In the Bank Feeds Center, select the Deposit and click Add More Details.

2. Select the Undeposited Funds that need to be matched.

3. Select Add to QuickBooks.

You may also consider checking out this article for additional reference about matching bank transactions: Add and match Bank Feed transactions in QuickBooks Desktop.

I've added this article for your future task about reconciliation: Reconciling an account in QuickBooks Desktop. This contains sub-articles such as fixing the opening balance.

Feel free to tag my name in the comment section below if you need further assistance. I'd be happy to answer them.

Ok. As I said. I know how to match them. But when I do, it makes it a double deposit in the register causing my account in QBD be very wrong. I'm not being rude, but I thought I made that abundantly clear. I need to know how to combine those double deposits, the one from my bank, and the undeposited funds. I'm not sure how else to explain it. 

That article that has been suggested to me twice now, unless I'm not understanding, it just explains how to download the transactions from the bank, match them with rules, check and make sure they are right, and then ok QBD to put them in the register, which I know how to do. So it's doing me no good. It's not what I need. I know how to do that.

I have to match the bank feeds deposits with the UNDEPOSITED funds from QBPOS. When I do, it makes a double deposit. 

My only solution now, because it seems no one understands what I'm talking about, is to create a dummy account and just deposit the undeposited funds into a fake, dummy account. 

I would think a program, designed for finances, would have an easy solution for matching them up. I guess I was wrong? 

I have the same problem with my company. I receive payment in QB. Then on the home screen it wants me to record the deposit.

Then when I go to do a bank feeds... it downloads that transaction again therefore goes in twice!

I have another company that I work with and I can receive the payment it goes into undeposited funds. No alert on home screen to record deposit.. so when I do a bank feeds I can use the drop down box and click add more detail and match it to the correct customers invoice! No double deposits with that company. 

Not understanding why they are set up different or how to fix my one QB WITH THE DOUBLE DEPOSITS!

I can help you with removing double deposits showing from your company file, @Cb944. 

You can match the transaction from your bank feeds to match it to the payment transaction that you've recorded. Doing so will avoid duplicates. 

To review and match transactions based on the mode you use, check out this article: Add and match Bank Feed transactions in QuickBooks Desktop. It'll discuss the process of adding and matching bank feed transactions in three different bank feed modes. It also explains how to manually match transactions and what to do if QuickBooks cannot find a match.

I also suggest checking your Preferences to set the Undeposited Funds as a default account for your payments. Check out these steps:

1. Go to the Edit menu and then select Preferences.
2. Select Payments from the list and proceed to the Company Preferences tab.
3. Tick the checkbox for Use Undeposited Funds as a default deposit to account.
4. Select OK.

You can check out this article on how to put payments into the Undeposited Funds account, make a bank deposit, and review your account. Additionally, it also explains how to customize your payment preferences: Deposit payments into the Undeposited Funds account in QuickBooks Desktop. 

From here, you can record a bank deposit in QuickBooks to combine payments. 

Let me know if you have further concerns about removing duplicate transactions. I'm always here to assist. Have a wonderful day!

I understand how to receive the payment. But quickbooks wants me to record the deposit and then I do a bank feeds and the deposit is there and take it in twice. How do I avoid that?