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Level 1

How do I get QuickBooks payments recorded correctly? The payment is recorded as "Undeposited funds" although it's been deposited.

 
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QuickBooks Team

How do I get QuickBooks payments recorded correctly? The payment is recorded as "Undeposited funds" although it's been deposited.

Hi there, janbear.

 

To deposit the payments to your actual bank, you have to create a bank deposit transaction. Here's how to do that:

 

  1. In your QuickBooks online company, go to the Hamburger icon.
  2. Click the + New button and then select Bank deposit.
  3. Choose the bank where you need to deposit your customer's payment.
  4. Verify the details then hit Save and close.

 

Here's how it looks like.

 

deposit.jpg

 

Also, I can see that this article can give you more information about the significance of Undeposited funds in QuickBooks Online: What’s the Undeposited Funds account?

 

For future reference, check out: Learn the reconcile workflow in QuickBooks.

 

I'm just around the corner if you need further assistance about deposit transaction. Have a good one!

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Level 1

How do I get QuickBooks payments recorded correctly? The payment is recorded as "Undeposited funds" although it's been deposited.

Thanks for that. Now I have two transactions, one labeled Account Receivable and one labeled Deposit. I don't see any way to match them.

 

 

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Moderator

How do I get QuickBooks payments recorded correctly? The payment is recorded as "Undeposited funds" although it's been deposited.

You can't match them since they're both payments, @janbear.

 

Accounts receivable can be a different transaction other than the deposit you recently created. Can you share a screenshot of your current view containing the two transactions?

 

The steps above is the correct way to deposit the customer's payment from your undeposited funds account. This will create a deposit with Undeposited Funds as the Payee label.

I'm adding these helpful article for ideas in recording your customer transactions and other related tasks: Income and Expenses.

 

Let us know in the comments if you need more help. Thanks!

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