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Level 1

Missing deposit:

A deposit is missing from my checking account. I have been doing the same transaction for years on QB, and cannot figure out what went wrong. Deposit made to customer account. Then made deposit from Undeposited Funds to correct checking account. Both sides of transaction show up in the Undeposited Fund register. But the deposit does not show up on bank account.

Please help. Thank you.

janpan

Solved
Best answer February 02, 2019

Best Answers
Highlighted
Level 15

Missing deposit:

@Anonymous

 

Please Learn from this input. Your answer here is Wrong: "To permanently record the deposit to your register, you'll only need to change the account from the U/F account to your bank account"

 

The person is already using UF just fine; you don't make a Change to the entry, when they are trying to manage the data flow. They told us it is going through UF, so let's not tell them to Change where they sent it. The help to give is to help them Find where it went, next.

 

@janpan

 

You can Confirm where the data flows. Start here:

 

"Deposit made to customer account."

 

Did you mean to tell us you used Receive Payment, so that is a Customer Payment and not a DEP directly? If so, Open the Payment and use History icon, or Ctl H. Here is what it is Linked to. You should see your Deposit here, so select it. Use the Go To button, and this Opens the DEP for you.

 

"Then made deposit from Undeposited Funds to correct checking account."

 

Now look top Left; is this the Right Bank account?

 

"But the deposit does not show up on bank account."

 

Make sure it went to the Right One.

 

 

 

View solution in original post

6 Comments
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Anonymous
Not applicable

Missing deposit:

Hey there, @janpan,

 

Thanks for checking this with the Community. I can share some information about recording customer payments.

 

Looking at the information you shared, it seems like you might have missed a step to record the deposit correctly. The Undeposited Funds in QuickBooks is just a temporary holding account for customer payments before depositing them to your bank.

 

To permanently record the deposit to your register, you'll only need to change the account from the U/F account to your bank account. For you to see which payments have not been deposited yet, you can customize the Undeposited Funds QuickReport. Here's how:

  1. Click the Lists menu.
  2. Choose Chart of Accounts.
  3. Right-click the Undeposited Funds account and select QuickReport: Undeposited Funds.
  4. From the Dates drop-down, choose the period you'd like to view on the report.
  5. Click the Customize Report button.
  6. Go to the Filters tab.
  7. From the Filter list, select Cleared.
  8. Under Cleared, select No.
  9. Click OK.

That should rectify the problem. Please checkout this article to know more about how the Undeposited Funds work: Understand How The Undeposited Funds Account Works

 

Let me know if you need further assistance with the process. You got me here to help you anytime. Have a great day!

Highlighted
Level 15

Missing deposit:

@Anonymous

 

Please Learn from this input. Your answer here is Wrong: "To permanently record the deposit to your register, you'll only need to change the account from the U/F account to your bank account"

 

The person is already using UF just fine; you don't make a Change to the entry, when they are trying to manage the data flow. They told us it is going through UF, so let's not tell them to Change where they sent it. The help to give is to help them Find where it went, next.

 

@janpan

 

You can Confirm where the data flows. Start here:

 

"Deposit made to customer account."

 

Did you mean to tell us you used Receive Payment, so that is a Customer Payment and not a DEP directly? If so, Open the Payment and use History icon, or Ctl H. Here is what it is Linked to. You should see your Deposit here, so select it. Use the Go To button, and this Opens the DEP for you.

 

"Then made deposit from Undeposited Funds to correct checking account."

 

Now look top Left; is this the Right Bank account?

 

"But the deposit does not show up on bank account."

 

Make sure it went to the Right One.

 

 

 

View solution in original post

Highlighted
Level 1

Missing deposit:

Thank you qbtechmt!

 

Your explanation allowed me to spot my error. Going to the history command showed me clearly what I had done wrong. The date of the deposit from the Undeposited Funds account differed from the date the payment was received. With rent checks being the same every month, I didn't spot the error.

Thank you for showing me the benefit of exploring  the history of the transaction.

 

All is well. Thank you.

 

janpan

Highlighted
Level 15

Missing deposit:

Let's review that this is Not an error: "The date of the deposit from the Undeposited Funds account differed from the date the payment was received."

 

That is exactly why you use UF. Example:

I invoice you for end of month. The payment is supposed to be here by the 15th. You send it in the mail or EFT and I get it and process it for the date = the 14th. I don't go to the bank until the 17th. If I date the Payment for the 17th, flowing directly to Bank account, I just implied you paid late. If I date the Payment the 14th, the Banking is not the 14th. Neither is the reality of what happened.

 

That's why the Payment is dated the 14th, and then the Deposit from UF is dated the 17th.

 

Dates matter in the bookkeeping, and you want them to reflect your reality.

 

Look at my attached image for Anton Teschner Sun Room.

Highlighted
Level 1

Missing deposit:

I need help figuring this out

Highlighted
Moderator

Missing deposit:

We'd love to help you out on your concern, steve153.

 

Please provide additional information so we can assist you accordingly.

 

I'll wait for your response and stay safe. 

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