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usergracyhagerty
Level 1

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

 
11 Comments 11
Tori B
QuickBooks Team

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

Good morning, @usergracyhagerty.

 

Thanks for reaching out to the Community for support. I hope you're enjoying the day so far. I'm happy to lend a hand with your payments. 

 

To clarify, do you mean payments made from the Receive Payment screen or Merchant Services? Since I'm unsure which one you mean exactly, I've included some steps for both below. 

 

From the Receive Payment screen:

 

  1. In the Receive Payment window, go to the Deposit to the field to change what account you want the payment to deposit into. 

 

You'll need to ensure that you check this box each time you record a payment to direct the payment into the correct account. Check out Record Invoice Payments in QuickBooks Online for more details. 

 

If you mean Merchant Service's, you'll need to change the account from your settings. Let me show you how below. 

 

  1. Sign in to QuickBooks Online in a web browser. Don't use the mobile app or GoPayments.
  2. Click on the Gear Icon, then choose Account and settings.
  3. Hit the Payments tab. In the Deposits section next to Standard Deposits, tap on Change bank.
  4. Select Add new bank account.
  5. Enter the Routing Number and Account Number of the bank account you want to change to. 
  6. Hit Save.
  7. Review the bank account info and is selected, then click Submit.

Feel free to see Change the account QuickBooks deposits payments into for additional details. 

 

Please let me know if you have any questions or concerns. You can reach out to the Community at any time. Take care and have a wonderful day ahead. 

 

 

Laurie431
Level 1

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

My Bank is already setup, BUT, my GOPAYMENTS in field STILL go into my "Undeposited Funds" account. I don't want them to go to that account. I want them to go directly to my "Bank Register".  Please help me avoid the UDF account.  Thank you.

RCV
QuickBooks Team
QuickBooks Team

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

Let me share some information about making deposits in QuickBooks Online (QBO), Laurie431. 

 

If your bank records a single payment, we can directly put the payment into your account and skip the default one. This way, we use your bank account as your deposit to account instead of the Undeposited Funds. Here's how:

  1. From the + New icon, select Receive Payment.
  2. Find the name of the customer from the drop-down menu.
  3. From the Outstanding Transactions section, choose the transactions.
  4. Select the payment method.
  5. Choose your checking account.
  6. Once you're done, press Save and close.

 

When grouping multiple payments, we'll need to use the Undeposited Funds account in QBO. This put the payments as a single record and make a bank deposit to combine them in QuickBooks. Let me show you how:

  1. Click the + New Plus icon. 
  2. Select Bank Deposit.
  3. From the Account dropdown, choose the account you want to put the money into.
  4. Select the checkbox for each transaction you want to combine.
  5. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
  6. Press Save and close or Save and new.

 

Here's an article you can refer to for more details about Undeposited Funds account. We can also generate a report that shows your total Undeposited Funds or create a report of your total Undeposited Funds. This helps you easily track the amount that needs to be deposited in your bank account.

 

Feel free to visit our Banking page for more insights about managing your bank feeds and reconciling accounts.

 

If you need to take care of other things in QuickBooks, I'm with you every step of the way. Just leave a comment below and I'll get back to you. Have a great day. 

Laurie431
Level 1

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

I understand how to "Manually" enter a deposit and change from "undeposited funds" to my bank account.  However, my issue is with "GOPAYMENT" App.  When my techs in the field take a payment, Quickbooks automatically posts the payment to "Undeposited Funds".  I don't want it to go to Undeposited Funds.  I want it to go straight to my bank account.  Please advise.  Thank you.

Rea_M
Moderator

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

I appreciate the additional info you've provided above, @Laurie431. I'll make sure your payments using the GoPayments app go straight to your bank account.

 

When you use QuickBooks Payments to process credit card and ACH transactions, you're able to choose the account you want QuickBooks to deposits payments to. To have the payments go straight to your bank account, you'll have to update your settings through your QuickBooks Online (QBO) account in a web browser. Here's how:

 

  1. Sign in to QuickBooks Online in a web browser. 
  2. Go to the Gear Icon, then choose Account and settings.
  3. Choose the Payments menu.
  4. In the Deposits section next to Standard Deposits, click on Change bank.
  5. Select Add new bank account.
  6. Enter the Routing Number and Account Number of the bank account you want to change to. 
  7. Click Save.
  8. Review the bank account info, then click Submit.

 

To learn what types of accounts you can deposit payments into, you can refer to this article: Deposit bank account for QuickBooks Payments.

 

Also, to answer the most frequently asked questions about QuickBooks Payments, I'd recommend checking out this article: QuickBooks Payments FAQs. It includes topics about funding status, payments processing, and account management, to name a few.

 

Please don't hesitate to keep me posted on how it goes. Let me know in the comments if you have other concerns about managing payment transactions in QBO. I'll gladly help. Take care, and I wish you continued success, @Laurie431.

Laurie431
Level 1

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

My Standard is already set to deposit to my bank account.  GOPAYMENTS STILL sends payments to my Undeposited Funds account.  How do I fix this?  When my tech is in the field there is NO option to choose a specific account.

JessT
Moderator

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

Hi Laurie,

 

Thanks for following up on this. Allow me to shed light on the process to clear this up.

 

I understand that you want the GoPayment app to directly post payments to your bank register. However, in the current process, they will have to go through the Undeposited Funds account first. They'll be deposited to your bank register when the system processes them for posting to your real account within the day.

 

Please check the deposit processing schedule for merchant transactions: Find out when QuickBooks Payments deposits customer payments.

 

Hope this clears up the posting process of the GoPayment transactions. If you have other concerns, just let us know by commenting below. Take care!

Laurie431
Level 1

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

The payment stays in the Undeposited Funds.  I don't want to use that account at all.  Is there no way around this with GOPAYMENTS? 

Kurt_M
QuickBooks Team

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

Welcome to the QuickBooks Community, @Laurie431. Allow me to share what I know about your query.

 

The Undeposited Funds account in QuickBooks keeps track of customer payments until you deposit them at a physical bank.

 

You can contact our Payment Support. They can assist you with transferring your money to your selected bank in this manner.

 

If you have any other payment-related questions, please leave them in the comments section below. I'll be there to assist you. Keep yourself safe!

Laurie431
Level 1

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

I know how to transfer from Undeposited Funds. I want to eliminate that step.  I want my GOPAYMENTS taken in the field to go directly to my check register.  Is this NOT possible with GOPAYMENTS?

Mich_S
QuickBooks Team

How do i get the payments made to deposit directly into my bank account and NOT quick books cash????

Thank you for joining the thread, @Laurie431.

 

It's possible to remove Undeposited Funds from Go Payments by changing the account from your settings.

 

To do that, you can follow the steps provided by my colleague @Tori B.

 

For more information about the process, you can also check this guide: Change the deposit bank account for QuickBooks Payments.

 

We're here if you have additional concerns about QuickBooks or receiving payments. Have a good one!

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