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Sandra Swaan
Level 1

GETTING DEPOSITS THAT ARE IN UNDEPOSITED FUNDS INTO THE BANK AFTER THE OWNER HAS ACTUALLY DEPOSITED THEM

The undeposited funds account has years of funds in it!
1 Comment 1
MaryAnn_E
QuickBooks Team

GETTING DEPOSITS THAT ARE IN UNDEPOSITED FUNDS INTO THE BANK AFTER THE OWNER HAS ACTUALLY DEPOSITED THEM

Hi there, @Sandra Swaan.

 

You can clear your account by creating a Bank Deposit. The purpose of creating a Bank Deposit is only to offset or to make the Undeposited Funds Account's balance zero. Any transaction created under this account will still show. 

 

Here's how:

  1. Select + New.
  2. Select Bank Deposit.
  3. From the Account ▼ dropdown, choose the US account you want to put the money into.
  4. Select the foreign currency under the Currency drop-down list. Verify the exchange rate.
  5. Select the checkbox for the transaction you want to deposit.
  6. Select Save and close or Save and new.

 

For your guide, you can use the How to Use the Undeposited Funds Account to Receive Payments article. Go to the Grouped Payments section.

 

Keep me posted if you're able to clear your account. I'm still here to help you further if you have followed up questions. Wishing you and your business continued success!

 

 

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