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This is based on a preference. Intuit changed the default some years ago in an apparent effort save you from yourself.
To make it so you can choose between Undeposited Funds and your bank accounts, start on the QuickBooks menu at Edit | Preferences | Payments | Company Preferences.
Then de-select the you'd-never-guess-what-this-does ineptly named option Use Undeposited as a default deposit to account.
A better label would be Make all Payments use only the Undeposited Funds Account even if that's a counterproductive waste of time.
Once you make that change, when you receive an A/R customer Payment, you'll see an account drop down on the form:
You'll also see it on the Sales Receipt form:
Also, your selected will 'stick' like a preference, and so once you pick the bank account you want to use it'll become the default.
The setup of your payments affects how they're recorded, Al252. I'm here to provide you with more information.
Before anything else, know that the payment feature in your QuickBooks Desktop is no longer available due to product discontinuation. Furthermore, I'd like to ask for further clarification regarding your payment. Did it go directly to your bank account or the undeposited funds? Did you have the option to choose which account to record it? Providing more information will enable me to develop a solution tailored to your inquiry.
Moreover, if Undeposited Funds is your default deposit account, payments will be automatically directed to it. To prevent this and have the flexibility to choose an account in recording, you can navigate to your account's Payment Preferences and review the options.
Additionally, run QBDT reports to get a financial overview of the status of your business. To do so, refer to this article: How to run and customize reports in QuickBooks Desktop.
The comment section is always open for further questions about received payments in QBDT. I'm here to provide assistance whenever you need it.
Hi
I am using Quick Books Pro 2008 Desktop , How can I just stop my payments going directly into Bank Account
This is based on a preference. Intuit changed the default some years ago in an apparent effort save you from yourself.
To make it so you can choose between Undeposited Funds and your bank accounts, start on the QuickBooks menu at Edit | Preferences | Payments | Company Preferences.
Then de-select the you'd-never-guess-what-this-does ineptly named option Use Undeposited as a default deposit to account.
A better label would be Make all Payments use only the Undeposited Funds Account even if that's a counterproductive waste of time.
Once you make that change, when you receive an A/R customer Payment, you'll see an account drop down on the form:
You'll also see it on the Sales Receipt form:
Also, your selected will 'stick' like a preference, and so once you pick the bank account you want to use it'll become the default.
RE: If you're using QuickBooks Desktop Pro 2008, know that the payment feature is no longer available due to product discontinuation. Consequently, when manually recording payment transactions, you can choose to place them in Undeposited Funds or enter them directly in your bank account.
This is proof that you don't understand the question!
Hello,al252.
In QuickBooks, you can utilize the Undeposited Funds account to temporarily hold customer payments. This prevents the payments from being directly deposited into your actual bank account.
To help you through this, I will provide some useful steps:
I will include an article to assist you on how to properly allocate payments on the Undeposited Funds in your QuickBooks account: Deposit payments into the Undeposited Funds account in QuickBooks Desktop.
When you're prepared to deposit customer payments, navigate to the Record Deposits / Make Deposits page and log them there. Refer to this article for guidance: Record and make bank deposits in QuickBooks Desktop.
In Community, we aim to address all your concerns thoroughly. If you have any other concerns, simply click Reply, and we will assist you promptly.
when i receive payments it goes to UN-Deposited funds and also to my bank account at the same time. ..
How can i stop the deposit going to my bank account directly ?
In QuickBooks, you can easily personalize how you manage and record incoming payments by tweaking the settings in the company preferences and the receive payments section, al252. This flexibility lets you tailor your financial tracking to fit the unique needs of your business, ensuring everything is organized just the way you like it.
To ensure that deposits do not go directly to your bank account, you can modify the settings within the company preferences and the receive payments section in QuickBooks. Allow me to guide you through the steps to adjust these settings for better control over your deposits.
Step 1. Set the Preferences.
Step 2. Set the Receive Payments to Undeposited Fund.
You need to manually set the Receive Payments to Undeposited Funds. By doing this, the received payments will not be directly deposited into your bank account.
Following these adjustments, your received payments will no longer be deposited directly into your bank account.
I've shared some articles that could be useful for you moving forward.
If you need more help setting up undeposited funds in QuickBooks, just click the Reply button. We're here and happy to assist you!
Hi Thomas
I'm using Quick Books Pro 2008 , and in Customer Payment Tab I do not have the [Deposit to Option]
You don't have the Deposit To field because you might have selected the Use Undeposited funds as a default deposit to account option under your Company Preferences, @al252. The following discussion will help ensure your payments are posted to the appropriate account.
Once you select the Use Undeposited as a default deposit to account option, all sales transactions will be automatically posted to the Undeposited Funds account. This will then remove the Deposit To field in customer payment forms. Therefore, you'll want to unselect it to make the Deposit To dropdown available.
You can follow the steps provided by my colleague above or refer to this article: Deposit payments into the Undeposited Funds account in QuickBooks Desktop.
Additionally, you mentioned in your previous response that payments directly go to both the Undeposited Funds and the bank account. Have you checked your transaction list for any duplicate entries? If so, you can delete the duplicate (transactions posted to the bank) to resolve the issue.
Here's how:
On the other hand, consider upgrading your QuickBooks Desktop to the latest version and get the newest features or services for a more efficient business management process. You can also switch to QuickBooks Online for greater flexibility and collaboration.
You'll want to continue submitting any further queries about handling customer transactions in QuickBooks Desktop using the Reply button below. We're readily available to assist you at any time.
Consider to upgrade your data to a newer version. You can still find QB Desktop with a non subscription license (e.g 2016 or later).
Please let me know if i am correct
A)
1-under Company preference , I deselect use un-deposited funds as a default deposit to account
2-Under customer tab - Receive payments I select un-deposited funds in the deposit to from drop down menu
B)
1-For the last two months I have received payment both in the un-deposited funds window and in the bank account which shows up under checks and payments in the left hand side.
I have reconciled my bank by using un-deposited amounts that was in that window,
2-now what should i do with the amounts that was deposited directly into my bank account
Best Regards
The challenge is that QB Desktop 2008 uses the old GUI and we can't replicate that process in newer versions to resolve your issue.
Let me take a moment to provide some clarification for you, al252. I want to ensure that everything is clear and understandable.
Regarding your initial concern, you're correct. In order to prevent payments from being deposited into your bank account, you will need to follow the steps outlined by my colleague, ThomasJosephD, above. These instructions will guide you through the actions to effectively stop those payments.
In response to your second concern, to prevent duplicate entries in your QuickBooks account, you can simply choose to ignore the transaction in your bank feeds. This is because any payments that are deposited into your bank account will automatically download into your bank feeds.
To ignore the transaction, you can follow these steps:
Additionally, consider upgrading your QuickBooks Desktop to the latest version and get the latest features and services used in managing your business activities.
Furthermore, you have the option to establish rules within the program that will assist in automatically matching your bank feed transactions. By setting up these rules, you can streamline the reconciliation process, allowing QuickBooks to recognize and categorize transactions based on specific criteria you define.
I'll be around if you need further assistance with your banking transactions. Just visit this forum anytime, and I'm here to help ensure everything runs smoothly for you.
I did the following:
in Customer payment I chose from Deposit drop down menu , deposit into UN-deposited funds and continued.
but when I went to my Bank account, the same invoice shows up and deduct the same exact amount from my Bank Balance.
Any new suggestion ?
Thanks
.
I appreciate the efforts you've made to ensure your customer payment goes to the correct account, al252. Since you're using QuickBooks Desktop 2008 version, which features a different user interface compared to newer versions, I recommend contacting our live support team. This way, they can further check what has caused this issue.
Our team possesses the necessary tools and expertise to securely access and review your account in a secure environment. Additionally, our support team can conduct a thorough examination through a screenshare, allowing them to identify the root cause of the issue and determine the best solution for this situation.
To contact them, here's how:
If you are a Plus, Pro, or Premier user, our support team is available to assist you from Monday to Friday, between 6 AM and 6 PM. If you are an Enterprise subscriber, you have the advantage of reaching out to us 24/7, any day of the week.
For reference, please see this article: Get help with QuickBooks products and services.
Also, here are some helpful articles that you can refer to for guidance on managing and recording customer-based reports in QuickBooks:
The Community forum is always accessible if you require additional assistance with receiving customer-based payments, al252. We'll be glad to help you out anytime.
I did the following:
in Customer payment I chose from Deposit drop down menu , deposit into UN-deposited funds and continued.
but when I went to my Bank account, the same invoice shows up and deduct the same exact amount from my Bank Balance.
Any new suggestion ?
Thanks
I did the following:
in Customer payment I chose from Deposit drop down menu , deposit into UN-deposited funds and continued.
but when I went to my Bank account, the same invoice shows up and deduct the same exact amount from my Bank Balance.. Should i just delete the entries that are in my Bank account and continue ?
Thanks for coming back and providing us with in-depth details of your concern, Al252.
It could be there might be an issue with the way the transactions are being recorded in QuickBooks Desktop. When receiving a payment from a customer, we need to record it against the invoice and choose to deposit it into "Undeposited Funds." This keeps the payment in a holding account until you are ready to group it with other payments and deposit them all to the bank at once.
In your case, the payment may have been recorded in the bank register as well. This is why you see duplicate and incorrect deductions from your bank balance. To correct this, we can delete the incorrect entries from your bank account register. Let me guide you on how:
After you've deleted the incorrect transaction, we can properly deposit the funds. Let me guide you on how:
From there, all payments in the Undeposited Funds account will automatically appear in the Bank Deposit window. You can check out this article for more details: Deposit payments into the Undeposited Funds account in the QuickBooks Desktop.
Once done, check your bank account register again. The bank balance should now correctly reflect the deposit without duplicated entries.
Moreover, you can refer to this article on how to track customer transactions in QuickBooks Desktop: Get started with customer transaction workflows in QuickBooks Desktop.
We are always here to help if you have any other concerns or questions about bank deposits or any QuickBooks-related concerns. You have a good one, Al252.
I followed your suggestion , in Bank register i did find the invoice and Right click and chose to delete but this message was displayed :
(There are payments applied to this invoice, changing the amount will cause the payments to be applied differently . Do you want to change it anyway )
should i choose YES ? and continue
I commend your efforts in following the steps provided by my colleagues, @al252.
In response to your additional concern, you're correct. You should select Yes, and then click Continue to proceed with deleting the duplicate payments from your bank register.
Once you have completed that, make sure to properly deposit the funds. Please follow the steps outlined by my colleague, RCV, as these instructions will guide you through the process of effectively depositing the funds.
For more details about undeposited funds, please refer to this article: Deposit payments into the Undeposited Funds account in QuickBooks Desktop.
To learn how to record your accounts receivable, visit this article: Get started with customer transaction workflows in QuickBooks Desktop.
We're still ready to respond promptly if you have any additional questions about bank deposits. Just click the Reply button below, and we'll get back to you as soon as we can.
I deleted all the invoices that were showing up in the bank register as duplicate , but when i run a Sales by customer report , customer names showed up but with ZERO sales . And i did run a profit and loss report
it did not show any income at all
Hello, al252.
Thank you for reaching out for assistance with the issue you're encountering with duplicate invoices and discrepancies in your reports. I'll ensure to offer help to resolve this.
It’s crucial to double-check the period settings of the reports you're generating. Sometimes, incorrect date ranges can lead to zero sales showing up in reports even though transactions exist.
To verify and adjust the reporting period:
If the date range is correct and yet the issue persists, there is a possibility that there may be an underlying issue with your company file that could be causing these discrepancies. I recommend using the Verify and Rebuild Data utility tool available in QuickBooks Desktop (QBDT) to help identify and correct any data integrity issues with your company file.
Here’s how to run the Verify and Rebuild tool in QBDT:
After completing these steps, please re-run the Sales by Customer and Profit and Loss reports to check that the data is accurately reflected.
I also recommend reconciling your accounts. This step is essential to ensure that the entries in your QuickBooks align perfectly with your actual bank and credit card statements.
If you continue to encounter issues or need further assistance navigating this process, please don't hesitate to post them in the comments, al252. We are committed to helping you ensure that your financial reports accurately reflect your business activities.
Hi , thanks for helping me with this issue
I did run Verify the Data under Utilities and there was no Problem, Also checked the report dates everything is OK . Still there is no sale for each customer.
Very puzzled with this issue, I have been using Quick Books for a very long time with no problem, but this problem showed up when I did set up a new company
Thank you for always getting back to us, @al252. I appreciate your patience as we address this problem. Let's work together to resolve the issue you are encountering.
Since there's no problem when verifying your data, let's try to utilize the QuickBooks Tool Hub. This is to review your data files thoroughly. I'll guide you through the process.
Please kindly follow the steps given below:
Once successfully downloaded, you can now then Run Quick Fix my File.
Here's how:
Lastly, Run QuickBooks File Doctor.
Here's how:
If the issue persists and the transactions still aren't showing, I recommend manually recreate all of the invoice that were deleted. This will make your transactions clearer and more organized. You can check this article to do so: Get started with customer transaction workflows in QuickBooks Desktop. Please follow only Workflow 1.
Additionally, I suggest reconciling your accounts regularly. This is a crucial step to verify that your QuickBooks entries match up accurately with your real bank and credit card statements.
If you have other questions regarding pulling up your transactions, feel free to reply to this post. The Community is always here to help you!
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