Cash payments

Hi there! Do you know how to record past cash payments? I've been adding them as cash and then QB creates an invoice. They are all sitting as undeposited at the moment. Wondering if this is okay. Thank you for any help!

Angelene 

Hello there, @Angelene.

Yes, what you did is the correct way of recording the cash payments. Also, as long as it hasn't been deposited to the correct bank account then leave the transactions in the Undeposited Funds. 

In case you need to deposit the transaction, you can create a Bank Deposit for this. To create a bank deposit, here's how:

1. Select Bank Deposit from the + New icon.
2. On the Account section, choose a bank account where you want to deposit the amount.
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. Click Save and close or Save and new.

To learn more about recording deposits, refer to this article: Record and make Bank Deposits in QuickBooks Online. It also includes a video tutorial for visual reference.

Also, I'd like to share this reference that you can check out to guide you in managing your bank transactions together with smooth reconciliation: Categorize and match online bank transactions in QuickBooks Online.

Know that you can always get back to me if there's anything else that you need. I'll be here to you. Have a good one!

 I have QB Desktop. When I made the deposit to the cash account, I used the "Cash back goes to"  and the owner's cash withdrawal account. It seems to have accounted correctly. Is this method acceptable? Thank you.

Hi there, @Catydid22. 

Thanks for taking the time to follow along with the thread and sharing your concerns. 

I recommend contacting your certified accountant. This way, they can review your account and let you know if this method works the right way for you and your business. If you don't have an accountant, don't sweat. You can find one here in our Resource Center. 

Please don't hesitate to let me know if you have any questions or concerns. Take care!