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Dennis_Puroclean
Level 1

Undeposited Funds

I've been given the undaunting task of getting our books in order. My question has to do with the Undeposited Funds account. That account is inactive and is showing up on the Balance Sheet with a substantial amout of money. How can I move the funds from Undeposited Funds account to the account that it needs to be in?

 

Any help would be greatly appreciated.

Solved
Best answer April 19, 2019

Best Answers
Rose-A
Moderator

Undeposited Funds

Good day. Dennis_Puroclean.

I'd be happy to help you move the money from the Undeposited Funds to the right account via QuickBooks Desktop.

 

By following the easy steps below, you should be able to move the money from the Undeposited Funds to the right account easily.

 

Here's how:

 

  1. Click Banking at the top menu bar and select Make Deposits.
  2. In the Payments to Deposit window, click to select the payments you wish to deposit.
  3. Click OK.
  4. In the Make Deposits window, click the Deposit To drop-down and select the first bank account.
  5. Enter a line then click the From Account drop-down and choose the second bank account.
  6. In the Amount column, enter a negative amount equal to the amount you want to deposit to the second account.
  7. Click Save & Close.

 

 

 

After that, you can pull up You can get more details in these articles:

Should you need more help in moving money from the Undeposited Funds to the right account, don't hesitate to let me know. Have a good one.

View solution in original post

4 Comments
Rose-A
Moderator

Undeposited Funds

Good day. Dennis_Puroclean.

I'd be happy to help you move the money from the Undeposited Funds to the right account via QuickBooks Desktop.

 

By following the easy steps below, you should be able to move the money from the Undeposited Funds to the right account easily.

 

Here's how:

 

  1. Click Banking at the top menu bar and select Make Deposits.
  2. In the Payments to Deposit window, click to select the payments you wish to deposit.
  3. Click OK.
  4. In the Make Deposits window, click the Deposit To drop-down and select the first bank account.
  5. Enter a line then click the From Account drop-down and choose the second bank account.
  6. In the Amount column, enter a negative amount equal to the amount you want to deposit to the second account.
  7. Click Save & Close.

 

 

 

After that, you can pull up You can get more details in these articles:

Should you need more help in moving money from the Undeposited Funds to the right account, don't hesitate to let me know. Have a good one.

View solution in original post

Dennis_Puroclean
Level 1

Undeposited Funds

Thank you so very much for your help. I really do appreciate it.

tiffanyajorge
Level 1

Undeposited Funds

Help, My quickbooks online credit card payments are depositing into the undeposited funds account. How do I correct these to the account they were actually deposited into? 

Kristine Mae
QuickBooks Team

Undeposited Funds

You'll have to let QuickBooks record the payment deposits automatically, Tiffanyajorge.

 

This way, the payments are grouped as a single deposit into your bank account. I'll guide you with the steps.

 

Here's how:

  1. Click Banking.
  2. Go to Record Merchant Service Deposits.
  3. Click Change your deposit settings.
  4. Turn on the Auto match & record feature.
  5. Click Save.

You can also check this article for more information: Automatically record QuickBooks Payments bank deposits.

 

If you have more questions, please don't hesitate to leave a comment below. We'll respond as soon as we can.

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