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Community Explorer **

I need to move hundreds of cash transactions from the Undeposited Funds account to the Square Cash Payment account. How can I do this without editing them one by one?

 
4 Comments
QuickBooks Team

Re: I need to move hundreds of cash transactions from the Undeposited Funds account to the Square...

You can do a bank deposit, cameron4.

 

This will let you move the cash transactions from Undeposited Funds to your Square Cash Payment account. Here's how:

  1. Go to the Plus icon and select Bank Deposit.
  2. From the Account drop-down, choose Square Cash Payment account.
  3. From the Select the payments included in this deposit, check the transactions to deposit.
  4. Enter other necessary information.
  5. Select Save and close.

Once done, check your Square Cash Payment account to see the deposited funds.

 

You can check how to record bank deposits article as your reference.

 

Please reply on this thread if you have other concerns. 

Community Explorer **

Re: I need to move hundreds of cash transactions from the Undeposited Funds account to the Square...

This isn't a reasonable solution as it suggests that I have to go through the hundreds of transactions one by one to add them up.  I need to be able to move them from the Undeposited Funds account to the Square Cash Payment account.  There should be a more direct way of doing this.

 
QuickBooks Team

Re: I need to move hundreds of cash transactions from the Undeposited Funds account to the Square...

Thanks for getting back, cameron4.

 

Currently, the only option to move a number of transactions to a different account is through a bank deposit. Though, you still need to check the correct transactions to deposit to avoid account discrepancies.

 

While we're unable to move all Undeposited Funds transactions to another at once, I'll send a request to our developers to let them know that this is something that you need. 

 

If you do have any other questions, please feel free to reach back out.

Community Explorer **

Re: I need to move hundreds of cash transactions from the Undeposited Funds account to the Square...

Thanks.  Actually I just needed to better understand how the undeposited funds account was supposed to work.  That is explained here, https://quickbooks.intuit.com/community/Help-Articles/Understand-how-the-Undeposited-Funds-account-w...

 

My solution is to just create a deposit to clear the cash deposits in the undeposited funds account and set the receiving account to my cash account.  This reduces the undeposited funds account by the amount of the cash deposit and increases my cash account by the same.  Then as I make actual cash deposits to my bank I just transfer the funds from my cash account to my bank account.  I don't have to add up the transactions because any discrepancy between the deposit into the cash account and the actual cash deposits to the bank simply reflect cash still in my cash account (cash drawers, stock of change, and cash deposits to bank not yet made).