Let me explain the meaning of the Pending status on the Payment Links tab and the timeline for funds to be deposited in your associated bank account, Madox.
The status of your customer payment is Pending, indicating that we are already processing transactions to your account. Once funds are cleared, the status will change to Funded. Then, you should match the downloaded payment or bank deposit with your open sales transaction associated with that customer payment.
On the other hand, if this is your first payment, deposits will take up to 5 business days. These initial deposits may take longer while we set up your account. Once everything is set up, customer payments will be deposited much faster.
To check the current deposit speed for your product, you can see them inside QBO:
- Sign in to your QBO account.
- Go to the Settings icon and select Account and Settings.
- Click on the Payments tab.
- Review the Deposit Speed section.
For more information about when QuickBooks Payments deposits customer payments and for next-day deposits, please refer to this article: Check the Deposit Speed.
Furthermore, you can check out this article to learn how to use bank rules to categorize automatically downloaded bank transactions: Create bank rules in QBO.
Let me know if you require further assistance with payment link status and deposit speed below. I'm here to assist you.
