Good day, @KJIsaacson.
If you would like to link the downloaded deposits to the Undeposited Funds account, you can follow the steps below. When the deposit hits your bank account, you can match it to the existing deposit in QuickBooks Online.
- Go to the +New icon, then choose Received payments.
- Choose the customer, then the invoice.
- Complete the Payment date and method.
- Enter the exact amount.
- Click the Deposit to drop-down arrow, then choose Undeposited Funds.
- Tap Save and close.
Before you deposit the amount to the correct bank. you'll have to exclude the bank transactions on the Banking page. This is to ensure that there are no duplicate transactions.
Here's how:
- Go to the Banking menu on the left panel.
- Choose Banking tab.
- Check the box beside the transactions you want to exclude.
- Click the Batch actions drop-down and choose to Exclude Selected.
Once done, let's deposit the amount by going to the +New icon. Then pick Bank deposit and select the right account in the drop-down. Then match the deposit.
If it's already added or Matched, you can unmatch the transactions. For additional information about unmatching bank transactions in QBO, please check out this link: Learn how to undo or unmatch transactions downloaded into QuickBooks Online.
Also, you can check your previous bank deposit if the payment you moved from the Undeposited Funds but don’t see it in the Bank Deposit window. For detailed instructions, click this article and proceed to Step 2: Find missing payments you want to deposit in the Bank Deposit window.
I've also added this discussion for your future task about categorization and reconciliation. This also contains sub-topics, such as fixing reconciliation discrepancies or the beginning balance.
Don't hesitate to tag my name in the comment section below if you have other concerns about your bank transactions in QuickBooks. I'm always ready to help.
