Cannot see items in undeposited funds when I create a bank deposit

Good afternoon ckzraymond,

Welcome to the QuickBooks Community! I will be happy to shed some light. Undeposited Funds cannot function as a bank account; it is only a default, temporary holding account, not a valid bank account. QuickBooks automatically creates this account, so you don't need to make it. 

However, you can correct this by editing the original transactions to point to the correct, default Undeposited Funds account, and then proceed with the standard bank deposit process.  Here's how:

1. Go to the Gear Icon (Settings) and select Chart of Accounts.
2. Look for an account with the Detail Type of Undeposited Funds.
3. The Account Type for this default account should be Other Current Assets, not Bank. 
4. In the Chart of Accounts, find the custom bank account you created and select View register or Run report.
5. Locate the transactions, open each, and look for the Deposit to or Account field.
6. Change the destination account in this field to the default Undeposited Funds (Other Current Asset type) account.
7. Save and close each transaction. 
8. From there, click the + New button (or Create menu) and choose Bank Deposit.
9. In the Bank Deposit window, the transactions you just edited should now be listed under the Select the payments included in this deposit section.
10. Check the box next to each payment you want to include in this specific deposit.
11. Ensure the Account dropdown at the top of the deposit screen is your actual business checking/savings bank account where the money was/is deposited in real life.
12. Verify that the total amount in QuickBooks matches your actual bank deposit slip/statement amount.
13. Select Save and close.

Let me know if you have any questions or concerns! I will be here to assist further. Take care. 

This response was so detailed and helpful!  Thank you so much!  I just have one question.  I found the account you are referring to in the Chart of accounts and was able to move a couple of the sales receipts into that account.  However, it's now called Payments to Deposit instead of Undeposited Funds in Quickbooks Online.  Once I delete my bank account with the same name, can I rename it Undeposited Funds or should I just leave it with the name QB Online gives it?  Thank you so much for your help!

Hi there, Raymond,
 

You're welcome! Great work in finding the account, and I’m glad my colleague’s response was helpful. Let me address your question about renaming the account.
 

Payments to Deposit is the default name QuickBooks Online uses as a temporary holding area for payments and sales receipts that have been received but not yet deposited into your actual bank account. This account serves the same purpose as Undeposited Funds.
 

You have the option to keep the name as is or rename it to Undeposited Funds, as long as you do not change its default Account and Detail Type.

Before renaming, ensure all transactions from the created account are transferred to Payments to Deposit account and make it inactive to avoid errors related to duplicate account names.

Please note that created accounts cannot be permanently deleted, you can only make them inactive. The transactions moved to the transferred account will remain intact. You can verify this by reviewing the Bank Deposit screen.

Please leave us a response if you have other questions or concerns.