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Anonymous
Not applicable

Didnt transfer stuff from UF to the bank account so I was going into each account and changing the "deposited to" from UF to our bank account.

but instead of this starting to clear up the UF balance it's caused it to be a HUGE negative #. Need help!
2 Comments
Community Champion

Didnt transfer stuff from UF to the bank account so I was going into each account and changing the "deposited to" from UF to our bank account.

My initial hunch is that you have 2 UF accounts, that you might have added one, thinking there was not one. So you posted to the UF you created, not the QB default one which is the only one visible to the create deposit process.

 

My second hunch is you do not fully understand the  process of using UF as a transitional funds holding until you manually create a deposit and add those items to it. 

 

Additionally, if you added deposits from a bank feed without matching what is already in, then you may have double-upped on income.

 

Unless each received payment is directly deposited to your bank then changing the payments from UF to bank is improper, inaccurate and will make reconciliation a nightmare.

Level 15

Didnt transfer stuff from UF to the bank account so I was going into each account and changing the "deposited to" from UF to our bank account.

Yep, wrong thing to do, you will have go back one by one and redo them to the way they were

 

When you take money from a customer, it sits in undeposited funds.  think of a desk drawer where you keep the checks received until you can go to the bank.

 

then you deposit them.  the deposit shows undeposted funds since that is the account they come from

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