so i have couple sales that pay cash, it go to Record deposite (undeposit fund).
invoice 1: 500 cash
invoice 2: 1000 cash
invoice 3: 500 cash
total cash on hand is 2000
a month later , it deposit 1000 into bank.
1) how do i do this in quick book desktop. It currently sitting on my undeposit fund
You'll need to make bank deposit to transfer the deposited amount from Undeposited Funds to your real-life bank account. To do this, you can follow the steps below:
For additional reference, you can check this article to know more about the Undeposited Funds:
Don't hesitate to leave a comment below if you have any other questions about processing bank deposit. I'm always here to help.
i am using quick book desktop and i don't see what you see. when i try banking-> make deposit a popup window tell me to select payment to deposit. This window basically all invoice and sales receipt payment.
Thanks for getting back to us. Let me share a few insights about moving funds from undeposited to your preferred bank account.
The Undeposited Funds account is the default in the "Deposit To" when you receive payments or enter a sales receipt. You should be able to see the invoices you've recorded in the Make Deposit screen.
The steps provided by my colleague above should help you move cash from your undeposited funds to your bank. You can also transfer the funds from undeposited to your preferred bank account using this method below:
For future reference, I'd suggest to always review the “Deposit to” field so you'll know where your payments are going.
Please feel free to post your questions here. You can always count on us here at any time.
the thing is i don't always have even amount example
invoice 1: 100.11
invoice 2: 200.22
invoice 3: 50.33
but i deposit into the bank 200 even.
i am thinking move all 3 to cash on hand as a bank type.
petty cash - 350.66 will be in there, then transfer petty cash to undeposit fund of $200. so when bank feed of $200 will match with undepoti fund of $200.
other option i am thinking is ignore that bank feed $200 from bank and just transfer from petty cash to bank account
Thanks for keeping touch, fd_com.
This time, I'd recommend seeking help with your accountant. He/she can provide you with some advice on how to handle this type of transfer based on your recording practice and business needs.
For more insights about recording an invoice payment, you can check this article: Record an invoice payment.
Please let me know if you ever need anything else. I’m here to keep helping. Have a nice day!
Hello there, fd_com,
This is a little bit tricky.
You can transfer $200 from your petty cash account to undeposited funds. Then, match it with the deposit in the bank feeds. Follow the same steps when you deposit the remaining amount.
Doing this will still show the customer payment in the Payment to Deposit window. Just ignore it since you've already deposited the $200 amount to the right bank account.
Another way of recording customer payments is to create a bank deposit of $350.66. Then, link it to your invoices when you receive payments. This way, QuickBooks will record one payment to the right bank account and avoid duplicates.
Create a bank deposit:
Link the invoice to the deposit:
Should you need additional information, please leave a comment below. I'll get back to you.
Thanks for reply.
maybe i didn't explain well, all i really want is that $350.66 (customer payment) in your screen is a check but in my case it is cash. I have 350.66 on hand ,but i only deposit $300 in the bank. so when the bank feed download it doesn't match with 350.66. I want to know how to move.
Hi there, fd_com.
In this case, record a deposit transaction and add second line item with a negative value (-50.66) in QuickBooks Desktop.
From there, you can match the deposit to the downloaded transaction. Before doing so, create a Petty Cash account first.
Then, follow these steps to create a bank deposit:
I've attached a screenshot, so you'll know what I'm referring to.
For further guidance, check out this article: Record and make Bank Deposits in QuickBooks Desktop.
Let me also share this link that will help you in the future: Add and match Bank Feed transactions.
Please leave a comment below if you have any follow-ups or other questions. I'm here to help. Have a wonderful day.