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usercheryl-gdbennett
Level 1

Why do un deposited funds show on the bank recompilation and how do you clear them?

I reconciled the prior month but undeposited funds are showing on the current recon - how do you resolve?
4 Comments 4
AlcaeusF
Moderator

Why do un deposited funds show on the bank recompilation and how do you clear them?

Hi @usercheryl-gdbennett,

 

Thank you for posting here in the Community. I'm here to share some clarification about the account showing in your current reconciliation.

 

When accepting customer payments, you usually hold the amount in Undeposited Funds before moving it to the actual bank account. It's normal to see this information in the reconciliation section when you deposit a single payment to your account.

 

For your visual reference, check out these screenshots:

 

 

 

Also, if you deposit multiple payments in a single deposit, it'll show as -Split- in your reconciliation. The only way to avoid the account from showing up is to deposit payments directly to the bank account.

 

For additional reference, you can use the following article to learn more about how the Undeposited Funds account works: How to Use the Undeposited Funds Account to Receive Payments in QuickBooks Online.

 

Feel free to hit that Reply button if you have additional questions about your reconciliation. Have a great day ahead.

usercheryl-gdbennett
Level 1

Why do un deposited funds show on the bank recompilation and how do you clear them?

I should have been more specific- why do the undeposited funds show as uncleared transactions on the bank reconciliation - this is for prior years as well current- yet bank recon balances?

usercheryl-gdbennett
Level 1

Why do un deposited funds show on the bank recompilation and how do you clear them?

Thank you for your reply -when doing the recon  - the deposit shows twice in the recon.  One as undeposited funds and the other shows  it is booked to an account (Service Appraisals)  why does the deposit show twice?

 

Candice C
QuickBooks Team

Why do un deposited funds show on the bank recompilation and how do you clear them?

Good morning, @usercheryl-gdbennett

 

Thanks for reaching back out to the Community and giving some extra clarification on this bank reconciliation problem.  Don't worry. I've got you covered. 

 

Since two deposits showing, I recommend contacting our Customer Support Team. They'll be able to use a screen share tool to make sure of the information listed and what needs to be done next to get this resolved as soon as possible. 

 

Here's how: 

 

  1. Go to the Help icon in the top right-hand corner. 
  2. Tap the Contact Us button. 
  3. Give a brief description of the problem and then press Let's Talk
  4. Scroll down and choose to Get a callback

 

That's all there is to it. Since this is your first thread in the Community, check out our tutorials page to see details about other features in your account. 

 

Let me know how it goes. I want to make sure that you're able to get back to running your business as soon as possible. I'm only a comment away if you need me. Have a great day!

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