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Level 1

If your bank statement says undeposited funds, and the undeposited funds has an R in the column does that mean the funds are deposited into the bank and can you reconcile

My bank statement shows undeposited funds instead of accounts receivable, can I still complete the reconciliation?
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Best answer January 12, 2021

Best Answers
QuickBooks Team

If your bank statement says undeposited funds, and the undeposited funds has an R in the column does that mean the funds are deposited into the bank and can you reconcile

You got it right, @margebisbee.

 

When you deposit your funds to the right bank account and reconcile it, it’ll show the “R” letter in the reconciled column. This lets you know that the transaction is already reconciled. 

 

In regards to your bank statements shows undeposited funds, are you referring to your bank register? If so, you’ll need to deposit the Undeposited funds to the right bank to reconcile it.  You can refer to this article that provides complete information on how to use undeposited funds in QuickBooks: How to Use the Undeposited Funds Account to Receive Payments in QuickBooks Online.

 

Once you’re all set, you can now reconcile your account. For additional guidance, check out this article: Reconcile an account in QuickBooks Online.

 

I’m also adding this link that you can visit to learn more about the reconciliation workflow in QuickBooks

 

Let me know if you need help reconciling your account. I’m more than happy to work with you again. Keep safe and stay well.

View solution in original post

1 Comment
QuickBooks Team

If your bank statement says undeposited funds, and the undeposited funds has an R in the column does that mean the funds are deposited into the bank and can you reconcile

You got it right, @margebisbee.

 

When you deposit your funds to the right bank account and reconcile it, it’ll show the “R” letter in the reconciled column. This lets you know that the transaction is already reconciled. 

 

In regards to your bank statements shows undeposited funds, are you referring to your bank register? If so, you’ll need to deposit the Undeposited funds to the right bank to reconcile it.  You can refer to this article that provides complete information on how to use undeposited funds in QuickBooks: How to Use the Undeposited Funds Account to Receive Payments in QuickBooks Online.

 

Once you’re all set, you can now reconcile your account. For additional guidance, check out this article: Reconcile an account in QuickBooks Online.

 

I’m also adding this link that you can visit to learn more about the reconciliation workflow in QuickBooks

 

Let me know if you need help reconciling your account. I’m more than happy to work with you again. Keep safe and stay well.

View solution in original post

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