Hello there, Holly.
Thank you for reaching out to the QuickBooks Community.
The status System recorded for the deposit means QuickBooks has successfully identified and logged the payment your client made via PayPal.
What happened next was that QuickBooks automatically processes and moves transactions into your accounts. When you reconcile the account, you might notice the deposit in QuickBooks doesn't match your bank statement. QuickBooks automatically deposits money into your bank account and categorizes it in your chart of accounts.
Need help managing your books? Our QuickBooks Live Expert Assisted team has your back. We have dedicated bookkeepers who assist you with streamlining your accounting process.
The Community is always open if you have any other QuickBooks concerns.
