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Join nowHi there. I am using Pro Desktop. I've never been able to get rid of payments going into undeposited funds. I don't want them to go there. I don't use that feature. All of my payments are received online except an occasional customer deposit which I put in the bank account immediately. So undeposited funds is an antiquated and unnecessary feature that I have not ever, nor will I ever use. I have attached screenshots and as you can see, I have the Use undeposited funds as default deposit to account unchecked. So why are these still going there? I don't know how to change them to WF Checking which is where they should go. I have had my accountant try and help me with this, but it just doesn't work. I have 5 years' worth of customer payments saying they are in "Undeposited Funds". I'm so frustrated. I've tried to read through info on this but nothing seems applicable to me. Most of it is for QBO which I don't use. I cannot find anything on how to bypass it all together, and what I do find isn't helpful. I guess it doesn't matter, my accountant knows about this. But my OCD wants it fixed (at least going forward and for the prior months of 2023).
I discovered new information today as I had two customer invoice payments to match in Bank Feeds. One showed up in the "Unrecognized" tab of bank feeds, one showed up in recognized. I have no idea why they show up in unrecognized when the customer pays directly from the invoice. But those are the ones that seem to be going to undeposited funds. The one that was recognized went to WF Checking.
So the next question is, why is the bank feed not recognizing that the payment needs to be applied to the invoice? I do absolutely nothing different for any of them. I follow the same exact process. Again, super frustrating.
Hello there, BLDB.
I appreciate the details that you've shared. I'm here to help fix the issue you're having with the Undeposited Funds (UF) account in QuickBooks Desktop (QBDT).
Currently, we haven't received any reports similar to what you're getting. To isolate this, you can use the Record Transfer option to transfer the payments that are showing as Unrecognized to your account as a workaround.
Here's how to do it:
Since you already unchecked the Use undeposited funds as default deposit to account box in the Company Preferences, and some of the transactions are still being posted to the UF account, I highly suggest contacting our Merchant Support team. They have tools such as screen-sharing (remote access) that can pull up your account in a secure environment and check the cause of this odd behavior. They can also perform troubleshooting steps if necessary.
To reach them, you can refer to this article and proceed to the QuickBooks Desktop with Payments section to get their most updated contact information: Contact Payments or Point of Sale Support.
For more information about managing and matching bank transactions in QBDT, consider checking out this article: Add and match Bank Feed transactions in QuickBooks Desktop.
I also suggest visiting our website for more tips and other resources you can use in the future: Self-help articles.
Please let me know if you have follow-up questions about this or anything else QuickBooks. I'll be more than willing to assist. Keep safe.
RE: I have attached screenshots and as you can see, I have the Use undeposited funds as default deposit to account unchecked. So why are these still going there?
They're going there as it's still the default account for Payments until you change it. Change the Deposit To account as you're creating a new payment and then the account should 'stick' for the next payment.
The message you're seeing when editing the payment and trying to change the account indicates that the payment has already been included in a deposit. Once that is the case there are quite a few things you can't change, including the Deposit To account. And, in fact, if you already put it in a deposit, I'm not sure why you'd want to undo that, assuming the deposit is real. But you can, either by deleting the line item that represents the payment from the deposit or by deleting the entire deposit.
The problem is as I stated in my above post is that I have no idea how to change the deposit to account. If someone can help me with that i'd love it.
Thank you. I can't try "record transfer" yet as I do not have anything there at the moment. I don't recall ever seeing that option though. I'll reach out to support. Appreciate it.
RE: The problem is as I stated in my above post is that I have no idea how to change the deposit to account.
Pick a different account in the Deposit To field:
Thank you but this doesn't work. I use automatic bank feeds and it does it for me. When I go back in and try to do that, it worked once but went back to undeposited funds, and the bank feeds does it that way.
RE: I use automatic bank feeds and it does it for me.
It does what for you?
Bank feeds is for recording banking transactions like Checks and Deposits. Customer Payments received are not banking transactions, though they can be deposited...
RE: When I go back in and try to do that, it worked once but went back to undeposited funds, and the bank feeds does it that way.
Go back in? Try to do what?
Sorry I left out a piece of that. My customers pay me online. Those transactions are automatically imported into QB from Intuit online. Then I go into Bank Feeds and match them. I never use that screen where you tell me to change the deposit to account. I don't receive the payments as the "QB Expert" I consulted with told me to ignore that and let QB/Intuit do it, because it was creating duplicate entries. I can not go back and then change from undeposited funds to WF Checking because as shown in the original attachment I provided, it doesn't let me.
Sorry, but I don't really understand what you're doing:
- Not sure how you can create Payment transactions without using the Receive Payments window.
- I suspect it's a feature of Bank Feeds, where as you're recording a Deposit, you can also specify the Payments included in it. If so, then that is why Undeposited Funds is used, because that is the only way to include a payment in a Deposit.
- You can change a Payments account from Undeposited Funds when it is not deposited.
- If it is deposited, then you can't.
- If it is somehow automatically deposited using the process you're using, then it's done and there is nothing to fix, and so I wonder why you care/ why you want to change it/ why it's an issue?
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