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Level 1

Does the Undeposited funds account ever disappear? I can't find it in the list when i go to make a deposit.

 
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QuickBooks Team

Does the Undeposited funds account ever disappear? I can't find it in the list when i go to make a deposit.

Thanks for joining the growing family of QuickBooks Community, 5petals.

 

When creating a bank deposit, you can only see the undeposited transactions, not the Undeposited Funds account itself.

 

If you're referring to the undeposited transaction that didn't appear in the Bank Deposit page, we can locate it  to check which account it has been deposited. We don't have to create a deposit for that transaction if it has been deposited directly to a bank account.

 

Take a look at my screenshot below:

 

DepositedTo.png

 

We can also go to the Chart of Accounts to check your Undeposited Funds account. It could be that it was renamed that's why you can't see it.

 

You can follow these steps:

  1. Select Accounting from the sidebar menu.
  2. Click the Chart of Accounts.
  3. Hold Ctrl + F to search.
  4. Type "Undeposited Funds".
  5. Check if there's an account that the detail type is Undeposited Funds.

 

Hit the reply button below if you have further questions about bank deposit. I'm always here to answer them.

 

Highlighted
Level 1

Does the Undeposited funds account ever disappear? I can't find it in the list when i go to make a deposit.

I'm having the same issue.  There is no default "Undeposited Funds" account on the chart of accounts and no way to change the default deposit account to the checking account.  Something is malfunctioning.

 

Highlighted
QuickBooks Team

Does the Undeposited funds account ever disappear? I can't find it in the list when i go to make a deposit.

Hi MyBizKeeper,

 

By default, the Undeposited Funds account is not available in the Chart of Accounts. However, certain conditions will trigger to make it appear on the COA. For example, the creation of the first invoice or sales receipt. If you already have these transactions, but still don't see the account, you can create it.

  1. Click the Accounting menu on the left navigation bar.
  2. Choose Chart of Accounts and click the New button.
  3. In the Account Type drop-down list, select Other Current Assets.
  4. In the Detail Type drop-down list, choose Undeposited Funds.
  5. Click Save and Close.

You can also check about depositing payments to the Undeposited Funds account for your additional reference.

 

Let us know if you still more help with the account. We're available 24/7, so you can reach back out at your most convenient time. Enjoy your weekend!

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