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ron-kirsch
Level 2

how do you deal with Undeposited Funds that have already been deposited as a bulk transaction? They still show up as Undeposited and AR.

 
5 Comments 5
FishingForAnswers
Level 10

how do you deal with Undeposited Funds that have already been deposited as a bulk transaction? They still show up as Undeposited and AR.

@ron-kirsch  If you used Undeposited Funds in a bulk deposit, then the amount in question will be removed from undeposited funds.

 

It sounds like either the deposit was not entered correctly, or there's a duplicate in your Undeposited Funds.

 

Can you elaborate on the original entries involved?

BigRedConsulting
Community Champion

how do you deal with Undeposited Funds that have already been deposited as a bulk transaction? They still show up as Undeposited and AR.

RE: They still show up as Undeposited and AR.

 

Depositing the payments won't change their accounting. They will always use the Undeposited Funds account and the A/R account.

 

If the payments are still waiting to be deposited when you create a new deposit, then there's an issue. If not, then there's nothing wrong.

ron-kirsch
Level 2

how do you deal with Undeposited Funds that have already been deposited as a bulk transaction? They still show up as Undeposited and AR.

The individual deposits were made with the QB card reader as credit card payments. Then they were all grouped together and deposited in the checking account in a bulk transaction. I didn't touch anything except to transfer the funds to my checking account. Then in QBO they show up as individual transactions and undeposited funds. 

ron-kirsch
Level 2

how do you deal with Undeposited Funds that have already been deposited as a bulk transaction? They still show up as Undeposited and AR.

The transactions were all credit card swipes from the QB card reader. When you transfer the funds to your bank it doesn't give you any options to categorize them or anything it just moves all the funds in a bulk transaction to your bank account. Then they show up in QBO as individual undeposited funds. They also show up on my balance sheet that way.  

BigRedConsulting
Community Champion

how do you deal with Undeposited Funds that have already been deposited as a bulk transaction? They still show up as Undeposited and AR.

It sounds like the individual payments use the bank account directly. If that is not how they're deposited, if they're batched together in one daily deposit, then they should use the undeposited funds account - and then the deposit should collect them together as one deposit.

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