How to make journal entry for undeposited payments
Thanks for visiting the Community, mb74.
I can help move the 1000 payments from the Undeposited funds to your Checking account.
There are different alternatives to use when handling transactions in QuickBooks Online. If you’re looking into transferring your funds in bulk from the Undeposited funds to your Checking account, you might want to consider using the Make Deposit feature instead.
With just a few clicks, you’ll be able to house these 1000 payments in the designated bank account. Here’s how:
Go to the Plus icon (Create button), then Bank Deposit.
In the Account drop-down, select your Checking account.
Put a check mark in the box before the Received From header.
The check marks will then show in all 1000 payments.
Click Save and Close (see screenshot below).
These payments should now show in the Checking account. If you want to verify, you can visit the Chart of Accounts and open the account’s register.
If you opt to use the Journal entry to record the transactions, you can Debit the Checking account and Credit the Undeposited funds. However, I’d still suggest consulting with your accountant prior to creating this to ensure accuracy with your books.
I’ve also added articles for future reference about handling customer payments: