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i8t
Level 2

Quickbook payments from CC & ACH are going into Undeposited funds and yet show deposited in bank and still in undeposited funds.

Thank you, jenop2, for the explanation.  So now I won't worry about those deposits still indicating "Undeposited Funds" as the Account.

 

backwood
Level 2

Quickbook payments from CC & ACH are going into Undeposited funds and yet show deposited in bank and still in undeposited funds.

I was having this same issue and then I realized… if you go to the chart of accounts and run a report for the account “undeposited funds”, you will see a ton of of numbers in there, however, if you scroll all the way to the bottom, the balance should show as $0 if everything has been properly deposited. Usually each will show two transactions, one for the payment and then a second for the deposit. Hope that helps with your situation!  

backwood
Level 2

Quickbook payments from CC & ACH are going into Undeposited funds and yet show deposited in bank and still in undeposited funds.

Yes! I found it confusing as well because I thought there shouldn’t be any transactions in there. As long as the balance is $0, you’re good to go! Crazy they couldn’t answer that for you a year ago lol 

i8t
Level 2

Quickbook payments from CC & ACH are going into Undeposited funds and yet show deposited in bank and still in undeposited funds.

Yeah, no kidding!  But your reply helps a lot, it totally makes sense. Thank you!

i8t
Level 2

Quickbook payments from CC & ACH are going into Undeposited funds and yet show deposited in bank and still in undeposited funds.

Exactly, no kidding!  Your answer will definitely help me going forward.  You rock!  Thank you!

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