How come a payment shows paid but not deposited. i havent recieved it in the bank yet

I'll share with you two possible reasons why the payment shows as paid, williamware9090.

It could be the other users of your book record the payment as paid. It's also possible that we have received other payment and linked it to this invoice. When we saved this transaction, the payment might be deposited to the Undeposited Funds (UF). 

What we can do now is delete the payment since you haven't received it in your bank. Go to Accounting and search for Undeposited Funds. Then, click View Register under the Action column. Look for the payment and click to see the Delete button.

Also, you can change the bank account information if you would like to deposit the payment to your bank account in advance. 

Stay in touch if you have more questions about recording transactions in your book. I'll be right here to help. Take care!

Before you go through the suggested process of deleting a posted payment you need to understand how payments work. This is true for most providers, not just Intuit. And it goes both ways.

When a payment is made there is a time lag between when the payment posts and when it hits the bank.  You can prove this to yourself by reviewing your own payments to vendors. Compare the dates you initiated a payment and the date the money was actually withdrawn from your bank. There will be a difference.  This is called "float". Float is much shorter now that banks communicate with each other faster but unless one pays extra for receiving same-day ACH there will always be that float time while the payments clear.

Your bank probably will not receive the payment for at least 5 days after QB reports the payment to you, and often longer than that. The slowness has nothing to do with how fast things move in the banking system, contrary to what QB likes to imply. QB slows down those transactions so they take much longer than a direct ACH payment from your payor's bank to your bank, to encourage you to pay them a monthly fee for transactions that move at the normal speed of ACH banking transactions. If you don't pay the extra fee, you might even get your money into your account faster if your payor mailed you a paper check.

It is not about bank delays!

Card is processed - drop down says “Processed”, invoice/sales receipt is marked “Paid”, BUT verifying on “Accounts and Settings” - “Payments” - “Transactions”, the payment NEVER shows up, is NOT processed, and deposit NEVER shows up in bank account, which unless you check the Payment Transaction every time to make sure it is there, it NEVER WILL.

WHEN THE TRANSACTION IS LEGITIMATE, IT SHOWS UP RIGHT AWAY IN THE PAYMENT TRANSACTION SCREEN.

We’ve dealt with this for nearly two years and it is not fixed.

BTW, you do NOT have to delete the payment - if you go back to Payment page, it shows Paid, but you can process the Transaction again on that page as-is and it goes through just fine.

TWO YEARS, and the answer from Intuit is “bank delay” which is wrong. 

This has been happening to me as well. 

question is , what am I paying for ? 
 I personally am moving to a different proceeding system . This will be my last month with quickbooks 

Hi megs90,

I understand that not receiving payments the soonest can impact business operations. There are factors that we need to consider why this is so, and I'll share them with you so to set a proper expectation.

Let's start with the PAID status because I notice that it is not discussed in the above responses. PAID only means the invoice is paid in full. It changes to DEPOSITED when the money is sent to your bank account, and that's the time you want to check your account.

On the other hand, John-Pero discussed how money flows between banks and the factors that can stretch the deposit timeframe. On our side, timeframe is also affected by the time the payment was made, the method used, if your QB Payments account is new or not, the deposit timeframe you follow, etc. Know how the said factors affect the funding time through this article: Find out when QuickBooks Payments deposits customer payments.

I also want to include this article which talks about protecting your account from payment disputes: Sign up for Payments Dispute Protection.

Let me know if you have other concerns with your customer's payment. I'm just around to help.