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matsold
Level 1

Undeposited Funds and Deposit

I have an ice cream parlor. My QB online is connected with Square. I usually deposit cash in an amount that is different from the cash that is in Undeposited Funds account. The difference is not so much but I tend to round it. How can I make a deposit in Bank account and reconcile the two amounts?

Solved
Best answer October 15, 2018

Best Answers
lyndaartesani
Level 6

Undeposited Funds and Deposit

What are you doing with the difference?

Tab down and put a minus sign in (or a + sign if you are rounding up) and apply it to that acct.  

Ie, use it for office supplies.  Total deposit 101.10  Office supplies minus 1.10 net deposit 100.00

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1 Comment 1
lyndaartesani
Level 6

Undeposited Funds and Deposit

What are you doing with the difference?

Tab down and put a minus sign in (or a + sign if you are rounding up) and apply it to that acct.  

Ie, use it for office supplies.  Total deposit 101.10  Office supplies minus 1.10 net deposit 100.00

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