Making deposits

It's great to know you're taking a QuickBooks business management class. Let me share some things with you, @Suzque.

The option to manually add the Undeposited Funds account when creating a Deposit is unavailable. You'll encounter the warning message since the Undeposited Funds is an internal software account. What we can do is to put the put payments into that account. Then, record a bank deposit and combine the payment in QuickBooks.

1. On the Homepage, select Record Deposits / Make Deposits.
2. In the Payments to Deposit window, select the payments you want to combine. Then select OK.
3. In the Make Deposits window, select the account you want to put the deposit into from the Deposit to dropdown.
4. Check the deposit total. Make sure the account and selected payments match the deposit slip from your bank. Use your deposit slip as a reference.
5. Enter the date you deposited at your bank.
6. Add a memo as needed.
7. When you're done, select Save & Close.

From there, all payments in the Undeposited Funds account will automatically appear in the Bank Deposit window. See Deposit payments into the Undeposited Funds account in QuickBooks Desktop article for the steps and details.  You can also check out the image below on how the account works:

For future reference, the following articles provide an overview of depositing payments in the Undeposited Funds account as well as instructions on how to record your account receivables.

• Deposit payments into the Undeposited Funds account
• Accounts Receivable workflow

I'm always here to help if you have any other concerns or questions about bank deposits. Just tag my name in the comment section and I'll get back to you as soon as I can.

DebSheenD, thank you for your quick response. It worked beautifully, thank you so much.

We make our deposits every day and I would rather see our deposits going directly to our bank instead of "undeposited Funds". I have experimented on fixing this, however have made a bigger mess for myself.

What is the secret that I have not been able to find anywhere to getting my deposites to read my bank name?

I have seen articles on removing undeposited funds however I do not dare do that because these books are set up to send them to undeposited funds and no where else! Thank you, I appreciate your time. 

I appreciate you for finding a way to fix this, Suzque. I'm here to help you ensure your deposits will go directly to your bank instead of undeposited funds.

One of the possible reason your deposits doesn't go directly to your preferred bank is that a feature called Use Undeposited Funds as a default deposit to account is enabled.

To change this from your company file settings, you can follow these steps:

1. Go to Edit, then Preferences.
2. Select Payments and click Company Preferences.
3. Uncheck the box of Use Undeposited Funds as a default deposit to account.
   
   

    

4. Click OK.

Once done, you manually select the account where the deposits will be posted when receiving customer's payments. Refer to the attached screenshot below:

On the other hand, if you are using QuickBooks Payments, you can proceed to Change how QuickBooks records payments on your chart of accounts section in this article: Automatically record QuickBooks Payments bank deposits in QuickBooks Desktop.

I've also added this article as a future reference in case you need to process a refund to a customer: Void or refund customer payments in QuickBooks Desktop.

Please let me know if there is anything else I can assist you with, and I will be more than happy to help. Stay safe!