There are two methods of handling bank deposits in QuickBooks Desktop after a Financial Exchange.
Method 1: Transfer funds from Cash Drawer to Undeposited Funds
By default, Cash payments from QuickBooks Desktop Point of Sale is placed in the Cash In Drawer account in QuickBooks Desktop. Checks, credit card, and debit card transactions are placed in the Undeposited Funds account.
Before you can deposit payments to a bank account in QuickBooks after a Financial Exchange, you need to transfer the funds from the Cash In Drawer account to the Undeposited Funds account. To do this, follow the steps below:
|
Important: If you have set up custom account mappings between Point of Sale and Desktop, you may need to use these for the Transfer From and Transfer To accounts instead of the Cash in Drawer and Undeposited Funds accounts.
|
- Go to the Banking menu, then select Transfer Funds.
- From the Transfer Funds From drop-down, select the Cash in Drawer account.
- From the Transfer Funds To drop-down, select the Undeposited Funds account.
- In the Transfer Amount field, enter the amount of money you want to transfer.
- Select Save & Close.
- Deposit the transferred amount.
- Go to the Banking menu, then select Make Deposits.
- On the Payments to Deposit window, select the transferred amount along with other payment/s to deposit. Select OK.
- On the Make Deposits window, select the bank account to which the funds are being deposited to.
- Select Save & Close.
Method 2: Add Cash in Drawer as a deposit line
- Go to the Banking menu, then select Make Deposits.
- On the Payments to Deposit window, select the payments to deposit, then OK. Note that the cash that was transferred from Point of Sale to Desktop does not appear on this list.
- Add a new line to the deposit list. On the From Account column, select Cash in Drawer.
- Enter the amount of cash to be deposited.
- Select Save & Close.