How do I transfer the funds from my undeposited account into my bank?

I’m glad to see you in the Community, matt-m5installat.

Moving funds from your undeposited account into your bank is simple and easy. You can either make a deposit or transfer it. I’m here to guide you through each one.

To enter a deposit:

1. Tap the New menu in the upper left to select Bank Deposit under Other.
2. Click the Account drop-down to select the correct bank.
3. In the Select the payments included in this deposit section, tick the boxes for the transactions you’re going to deposit.
4. Hit Save and close to keep the changes.
   I've included screenshots for visual reference.

To transfer:

1. Go to the New menu at the top and choose Transfer under Other.
2. Press the Transfer Funds From drop-down to select Undeposited Funds.
3. Then, pick the appropriate bank you want to move the money to.
4. Fill in the remaining fields.
5. Click Save and close.

For more insights into each process, see the following guides.

• Record and make bank deposits in QuickBooks Online
• Transfer funds between accounts

Stay in touch if you have additional questions or other concerns. I’ll be right here to answer them for you. Wishing you and your business continued success.

Hi there, matt-m5installat.

I’m here to check if the steps I shared helped you successfully transferred the funds to your bank? I want to make sure this is taken care of for you.

Don’t hesitate to leave a comment if you need further assistance with the process. I’m always ready to lend a helping hand.

I completed this process when my accountant found this large sum of money in undeposited funds.  That was on a Saturday. How many business days does it take for the bank deposit from undeposited funds to actually get deposited into my business checking account?

I've got some ideas on when the money will be transferred to your business checking account, @NikkiB73.

If you're using QuickBooks Payments, generally funds reach your bank account within 3-5 business days. This also varies depending on the following factors:

• Time of day you enter transactions
• The financial institution you choose for transactions to be deposited in.
• How long it takes your bank to verify and process electronic deposits.

For additional info, you may also read through this article: How Long Does It Take for Funds to Reach My Bank Account? It also includes some ideas on how are deposits and fees recorded.

If you're not using QuickBooks Payments, please know that the software is only for recording purposes. I suggest checking your bank statement if the funds have already been transferred.

In addition to that, let me share this link to help you understand how bank deposits work with the Undeposited Funds account in QuickBooks: Deposit payments into the Undeposited Funds account in QuickBooks Online.

If there's anything I can help you with handling bank deposits, please let me know by adding a post below. I'll be happy to help you. Stay safe!

Does this actually move the physical cash to our bank account, or does it just post the accounting for the transfer?  I'm trying to move cash that has been sitting in Underposited Funds for months into our physical bank account.

Thanks for joining in this conversation, @econnolly. Moving funds from the Undeposited funds to your bank is for recording purposes only. 

Should you need to transfer the physical funds from one account to another, you'll need to do it through your online banking, and then record that in QuickBooks. 

You can also follow the steps shared in this help article: Transfer funds between accounts.

For future reference, you can check out this article to learn more about recording and making bank deposits in QuickBooks Online. 

Get back to us at any time if you have additional concerns. Take care!

How do I record the QB fee for online payment from the undeposited funds?

Good afternoon, @TonyaM. 

It's great to see a new face here in the Community. I appreciate you chiming in on this thread. 

Within the managing deposits guide that my colleagues provided, is a section (Include bank or processing fees) specifically for bank/processing fees that you need help with. After clicking on this portion of the page, you'll be able to review details and instructions on how to record this properly in your QuickBooks Online account. 

Please let me know if this does the trick. I'm only a comment away if you need me. Take care!

I'm not asking about how to record the transaction.  We had a customer pay us through the QuickBooks payment portal, though we don't use this service.  We need the physical cash deposited to our bank account.  It has been stuck there for almost a year.  No one I've spoken to has been able to help me transfer the cash.  

Hey again, @econnolly. 

Thanks for clarifying your situation with the Community. Let me point you in the right direction to get this taken care of. 

Based on the information you provided us with in your last response, I suggest contacting our Customer Support Team. They'll be able to use a screen share to take a closer look at your account. Here's how: 

1. Go to the Help icon in the top right-hand corner. 
2. Press the Contact Us button. 
3. Enter your question and hit Let's talk. 
4. Scroll down and choose to Get a callback. 

It's that easy! 

Keep us updated on how the call goes. Wishing you and your business continued success!