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I inherited a quickbooks account and there is an old deposit to be be deposited. This does not show up in undeposited funds on the balance sheet. Any idea how I remove?

 
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Re: I inherited a quickbooks account and there is an old deposit to be be deposited. This does not show up in undeposited funds on the balance sheet. Any idea how I remove?

Where is the deposit now if it is not in undeposited funds

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Re: I inherited a quickbooks account and there is an old deposit to be be deposited. This does not show up in undeposited funds on the balance sheet. Any idea how I remove?

Sitting there to be deposited.

Moderator

Re: I inherited a quickbooks account and there is an old deposit to be be deposited. This does no...

Hello there, aroatescpa,

 

Removing the deposit will leave the transaction associated with it as open. It's much better to make a bank deposit to resolve it.

 

Here's how:

  1. Select Record Deposits / Make Deposits on the Homepage.
  2. In the Payments to Deposit window, select the payment, then click OK.
  3. In the Make Deposits window, from the Deposit to drop-down menu, select the account you want to put the money into.
  4. Make sure the deposit total and payment match.
  5. Enter the deposit date.
  6. Select Save and Close.

You can check this article for more information: Record and make Bank Deposits in QuickBooks Desktop.

 

Stay in touch with me if you need more help.

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Re: I inherited a quickbooks account and there is an old deposit to be be deposited. This does no...

It is not a real deposit.  All the bank accounts reconcile.

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Re: I inherited a quickbooks account and there is an old deposit to be be deposited. This does no...

It is not a real deposit.  All the accounts reconcile and this amount goes back to 2001.

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QuickBooks Team

Re: I inherited a quickbooks account and there is an old deposit to be be deposited. This does no...

Hello aroatescpa,

 

You'll want to create an account to offset these deposits and make a zero deposit to fix this. However, I'd suggest consulting with an accountant to know what type of account to use. Here's how to make a deposit.

  1. Click (+) Create.
  2. Click Bank Deposit under Other.
  3. Mark the deposits in question under Select the payments included in this deposit section.
  4. Under Add funds to this deposit section, select the offsetting account and then enter the Amount as negative.
  5. Add a Memo for your reference.
  6. Click Save and close.

Please see attached screenshot.

 

You can also visit our page about banking and bank feeds for some help articles for your future tasks.

 

If you have other questions about deposits, please let me know. I'd be around for you.

 

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Re: I inherited a quickbooks account and there is an old deposit to be be deposited. This does no...

The amount is appearing now in undeposited funds after making the suggested deposit.  This is the problem.  It is either in to be deposited or undeposited funds.  I have previously tried everything suggested and more.

QuickBooks Team

Re: I inherited a quickbooks account and there is an old deposit to be be deposited. This does no...

Once the amount is appearing in the Undeposited funds, you can follow MaryLurleenM's suggestion, Aroatescpa. This will help you deposit it to the correct bank account.

 

Although, I suggest conferring with your account if this involves old transactions. This might affect the books or reports.

 

You can also contact our technical support so an agent can take a better look at your situation. They have more tools, like screen sharing, that can definitely help you. Here's how:

  1. Click Help, then go to QuickBooks Desktop Help.
  2. Select Contact us.
  3. Enter "Undeposited Funds" in the description field, then click Continue.
  4. Select either Message an Agent or Talk to a Specialist

You can always visit the Community if you have more concerns about deposits. We're right here to assist you. 

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