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userss
Level 1

Why I cannot get the money transferred into my bank account, it is in undeposited funds.

 
5 Comments 5
AlcaeusF
Moderator

Why I cannot get the money transferred into my bank account, it is in undeposited funds.

Hi there, @userss.

 

Thank you for posting here in the Community. I can help you transfer the payments into your bank account in QuickBooks.

 

The Undeposited Funds account holds your money until you are ready to deposit them. You can use the Bank deposit option to move the payments to the bank.

 

Here's how:

 

  1. Click the + New option.
  2. Select Bank deposit under Other.
  3. Below Account, choose your bank account.
  4. Under Select the payments included in this deposit, put a checkmark on the payments you want to deposit. 
  5. Hit Save and close.
  6. Click the Gear icon in the upper-right corner.
  7. Select Chart of accounts.
  8. Search for your bank.
  9. Hit View register.
  10. Review the transactions. 

 

You've mentioned you're unable to get the money transferred in the system. Can you share with me how you did it or is there an error during the process? Any additional information will help ensure a more accurate solution.

 

For more details, as well as how to handle transactions processed with QuickBooks Payments, I recommend the following article: Deposit payments into the Undeposited Funds account in QuickBooks Online.

 

Please know that I'm just a post away if you have any other questions related to customer payments in QuickBooks. Take care.

userss
Level 1

Why I cannot get the money transferred into my bank account, it is in undeposited funds.

Hi, this is an issue I am talking about. My customer used a link that was sent to them for a credit card payment. The payment came in. I managed to move a received payment into undeposited funds.now this deposit is on hold. It says that a payment needs a score and that nsrricrions are in may email. But, there is nothing. 

userss
Level 1

Why I cannot get the money transferred into my bank account, it is in undeposited funds.

Hi, I managed to move this payment into an undeposited section. Now, it says that payment is in review. I tried to set up a payment facility with you, but this was not available for me. 

JoesemM
Moderator

Why I cannot get the money transferred into my bank account, it is in undeposited funds.

Thanks for getting back to us, @userss.

 

I appreciate you for sharing more details with your concern. Helping you out checking why the deposit is withheld is my priority.

 

The fastest way to figure out what happened to the transaction is to give our Merchant Services team a call. They need to gather personal details for verification purposes which can't be done in the Community for the safety of your account.

 

Once done, they can trace why the payment needs to review and check why you haven't received any email. From there, they can further investigate this matter and provide instructions on how to get the funds.

 

Also, I've added these articles to learn more about how you can take and process payments in QuickBooks:

 

 

Let me know how the call goes, as I want to make sure this is taken care of for you. I'm also here if you need further help with anything in QuickBooks. Take good care!

userss
Level 1

Why I cannot get the money transferred into my bank account, it is in undeposited funds.

Hi, it looks that we found an issue with this payment. In fact, I processed the payment correctly and it should of been deposited by now. But, it has not been. I spoke with your Operations Department and they informed me that the payment has not been deposited because this transaction has not been settled, yet. Furthermore, your OD informed me that this transaction cannot be settled because we are not set up for your service of accepting payments via your acquiring facilities. That is fine. However, I do not understand how a payment link could of been generated and sent to our customer, if we are not wired to this service?! Isn't it strange? Furthermore, I tried to set this service up and got refused!!! A representative of your OD told me that it would be because our organisation does not have credit history. That is true! Although I do not understand how this could be related, as you are not providing credit to us. 

 

Anyway, it looks like this payment must be sent back to our customer and we have to collect this payment some other way. Having said all of the above, could you confirm that the above-mentioned is correct and the payment was bounced? We would appreciate some sort of rebate on payments we made towards your services for developed inconveniences. 

 

Looking forward to your soonest reply, 

 

Sergei 

 

 

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