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chris120
Level 2

Bank Deposits

I seem to have funds in "Undeposited Funds" that are also showing as deposited in my bank account. I have a bank deposit on 5/11/20 for $321.05. It was a split deposit between two sales receipts. The two individual sales receipts are showing in my "Undeposited Funds," as a sales receipt, but no offsetting deposit. But in my bank account, I am showing a single deposit for $321.05. Every time I try to deposit the two sales receipts, I end up double-counting the deposit. Not sure what I did wrong. Need some help please!

Solved
Best answer September 28, 2020

Best Answers
Catherine_B
QuickBooks Team

Bank Deposits

I can help you link the deposit into your sales receipts, chris120.

 

The Undeposited Funds account in QuickBooks Online is a special account that we use in holding payments received before you deposit them into the bank. You can undo the added deposit and match it to the two sales receipts to avoid duplicates.

 

I'll show you how:

 

  1. Go to the Transactions menu and select Banking.
  2. Select the bank and click the Reviewed tab.
  3. Look for the lumpsum deposit and click Undo under the ACTION column. The deposit will be moved to the For Review tab.
  4. Select For Review and click the deposit.
  5. Click Find match
  6. You can filter the transactions to show and make sure the date is within the dates you created the sales receipt. 
  7. Select both Sales Receipts and click Save. 

Feel free to check out these references for more details in handling bank deposits:

I'm just around the corner if there's anything else that you need help with. You take care and have a great day!

View solution in original post

3 Comments 3
Catherine_B
QuickBooks Team

Bank Deposits

I can help you link the deposit into your sales receipts, chris120.

 

The Undeposited Funds account in QuickBooks Online is a special account that we use in holding payments received before you deposit them into the bank. You can undo the added deposit and match it to the two sales receipts to avoid duplicates.

 

I'll show you how:

 

  1. Go to the Transactions menu and select Banking.
  2. Select the bank and click the Reviewed tab.
  3. Look for the lumpsum deposit and click Undo under the ACTION column. The deposit will be moved to the For Review tab.
  4. Select For Review and click the deposit.
  5. Click Find match
  6. You can filter the transactions to show and make sure the date is within the dates you created the sales receipt. 
  7. Select both Sales Receipts and click Save. 

Feel free to check out these references for more details in handling bank deposits:

I'm just around the corner if there's anything else that you need help with. You take care and have a great day!

View solution in original post

Djss
Level 1

Bank Deposits

Bank deposit pending want it my account 

SarahannC
Moderator

Bank Deposits

Hello there, @Djss.

 

I would like to clarify some information about the bank deposit you've posted. This is to make sure your concern is properly addressed.

 

When you say bank deposit pending, do you mean transactions that were processed through QuickBooks Payments? If so, a pending deposit is money that has been deposited, but not yet authorized for your use. The reason banks show pending deposits, is so that you know the actual deposit is processing. It lets you know that the bank is working on verifying the funds and that they will be available soon.

 

To gather additional information about customer payments in QBO, check this article: Find Out When QuickBooks Payments Deposits Customer Payments.

 

If you're referring to manually record bank deposits in your QuickBooks Online account, you can follow these steps to accomplish the task. Here's how:

 

  1. Go to the + New button.
  2. Select Bank Deposit under Other.
  3. From the Account dropdown arrow, choose the account you want to put the money into.
  4. Tick all the transactions you want to combine or deposit.
  5. Make sure the total of the selected transactions matches your deposit slip.
  6. Select Save and close or Save and new.

 

For additional details about it, you can read through this article: Record and make bank deposits in QuickBooks Online.

 

Also, I've collected a few articles where you can check out and learn about how payment deposits work in QuickBooks Online: 

 

 

Please let us know if you're referring to something else or have other questions. I'll be around in case you need more help. Stay safe and be well!

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