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cchekaa
Level 2

I never did anything with the undeposited funds page. I have been using QB online Jan 2020 and 2018

 
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Best answer May 29, 2021

Best Answers
MJoy_D
Moderator

I never did anything with the undeposited funds page. I have been using QB online Jan 2020 and 2018

I can share some information about the Undeposited Funds Account in QuickBooks Online (QBO), @cchekaa.

 

The Undeposited Funds Account is used as a temporary account used to hold payments before you can record them as Bank deposit in QBO. To know more about this function, refer to the following article: What’s the Undeposited Funds account?.

 

You can simply create a bank deposit to clear out your Undeposited Funds Account and deposit it to the right accounts. Follow the steps below:

  1. Go to the + New button and select Bank Deposit.
  2. From the Account ▼ dropdown, choose the account you want to put the money into.
  3. Select the checkbox for each transaction you want to combine.
  4. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
  5. Select Save and close or Save and new.

 

Refer to this article for more information on clearing out your undeposited funds' account: Record and make bank deposits in QuickBooks Online.

 

To see the entire Undeposited Funds Workflow, check this article: How to Use the Undeposited Funds Account to Receive Payments in QuickBooks Online

 

Let me know if you have further questions about the undeposited funds and or anything else, by leaving a reply below. Take care and have a wonderful day!

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1 Comment 1
MJoy_D
Moderator

I never did anything with the undeposited funds page. I have been using QB online Jan 2020 and 2018

I can share some information about the Undeposited Funds Account in QuickBooks Online (QBO), @cchekaa.

 

The Undeposited Funds Account is used as a temporary account used to hold payments before you can record them as Bank deposit in QBO. To know more about this function, refer to the following article: What’s the Undeposited Funds account?.

 

You can simply create a bank deposit to clear out your Undeposited Funds Account and deposit it to the right accounts. Follow the steps below:

  1. Go to the + New button and select Bank Deposit.
  2. From the Account ▼ dropdown, choose the account you want to put the money into.
  3. Select the checkbox for each transaction you want to combine.
  4. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
  5. Select Save and close or Save and new.

 

Refer to this article for more information on clearing out your undeposited funds' account: Record and make bank deposits in QuickBooks Online.

 

To see the entire Undeposited Funds Workflow, check this article: How to Use the Undeposited Funds Account to Receive Payments in QuickBooks Online

 

Let me know if you have further questions about the undeposited funds and or anything else, by leaving a reply below. Take care and have a wonderful day!

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