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HWETN
Level 2

Is there a simple solution to deleting an entry from the undeposited funds?

I have an entry on the undeposited funds for a client initial deposit.  When I look at the client account I have two payments applied to one invoice which is the way it is supposed to be.   Both the initial deposit and the final payment with all the details are listed.  The client screen is zeroed out so nothing owed and no money sitting there as a credit.  I was able to reconcile my bank statement...after unreconciling and going back and re-reconciling.  So two questions 1) why is that deposit still showing on the undeposited funds register as being "open".  Meaning my balance on the undeposited funds register is the same amount as the open amount.  2) How can I delete that deposit from the undeposited funds without messing up the client account?  BTW the information showing on the undeposited funds amount is the same check # as the final payment. on the client account.

3 Comments 3
Kayla H
QuickBooks Team

Is there a simple solution to deleting an entry from the undeposited funds?


Great to have you in the community, @HWETN.

 

Let's take a few steps to correct the deposit, in undeposited funds.

 

Sounds like the deposit is not attached to the payment. Open the current deposit that you've created. On the bank deposit screen, there will be a list of transactions. These are the payments that are currently in undeposited funds. Look through the list and find the payment in question to ensure that it has been checked on the left-hand side. 
If not, place a check on the payment. After the checkmark has been placed scroll down to the bottom and delete the payment, then save and close.

 

Please know I'm always available here to lend a helping hand.


 

HWETN
Level 2

Is there a simple solution to deleting an entry from the undeposited funds?

Kayla H, thanks for the quick response.  The deposit in question is not on the deposit screen.  It is showing as a balance on the undeposited funds register.

ShiellaGraceA
QuickBooks Team

Is there a simple solution to deleting an entry from the undeposited funds?

Hi HWETN,

 

You can create a negative deposit to offset the outstanding balance in your undeposited funds. However, it's best to consult your accountant before doing this.

 

Here's how to make a negative deposit:

  1. Go to Accounting, then Chart of Accounts.
  2. Select the View register link and open the transaction in question.
  3. In the Bank Deposit screen, under Add funds to this deposit, create the offset amount. Consult your accountant for the offsetting account.
  4. Click Save and close.

Once done, check the balance of your undeposited funds again.

 

Here's a video about downloading, matching, and categorizing your bank transactions for additional reference.

 

Please reply to this thread if you need help with anything else. I'll be around to help.

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