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Dejekt
Level 1

help fixing square - undeposited funds

So I am trying to fix everything in my register right now, and the biggest problem is that my undeposited funds are showing super high. I have pinpointed the bulk of the problems to when we used square for a few weeks while waiting on our current processor to setup our MID.

 

I had given up trying to use a sales receipt like I do with our own terminal normally, because square takes it fees out off the top which was making it hard/impossible for me to get anything to populate and match  when deposits would be made. I ended up using square's autoimport feature on QB and it created a separate invoice for anything so they could be matched in bulk. The issue seems to be that it put everything into "undeposited funds"

 

Is there a way for me to fix this now without it being an absolute nightmare? It won't let me edit the deposits since it says they are matched already.

 

"This transaction has been deposited. If you want to change or delete it, you must edit the deposit it appears on and remove it first."

 

Whats the best way forward from here?

1 Comment 1
Catherine_B
QuickBooks Team

help fixing square - undeposited funds

Hi there, Dejekt. 

 

It looks like the invoices are automatically imported from Square, and the Deposit you matched to these invoices are from our Bank feeds. We can undo the match at one and from there, we can edit the payment. I'll guide you through the steps. 

 

First, let's undo the matched transactions. 

  1. Go to the Banking page and click the bank. 
  2. From the Reviewed tab, select all the deposits we've matched. 
  3. Click Undo above the Date column. 

Then, let's go back to the invoices and receive the payment for each. You can either deposit the payment to Undeposited Funds which we'll deposit it afterwards, or directly depositing it to the bank. Once we're done, we can now match the deposits to the payments we created. 

 

You can always refer to these articles for more details:

Reach out to me if you have other questions. Take care!

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