Undeposited Funds

Hey there, @djones3. 

It's great to see you back in the Community! Let's work together to figure out the best route for this situation. 

Based on the information you gave, it sounds like you recorded the payment, sent it to undeposited funds, and then added the deposit when it came from your bank. If this is the case, you need to make the deposit in QB first and then matched it to the deposit the came from your bank. 

If your situation is different, please give me a few more details and screenshots so we can determine the best solution for your business. I'll be back around shortly to check in! 

Hi Candace

The undeposited funds I am referring to was automatically matched by QuickBooks when payment was made by the customer via credit card. Then I found the payment deposited the next day on our bank statement. I am asking do I need to move the funds from that account to another revenue account. Because the system has matched off automatically do I need to undo everything and do it again to select the correct revenue account

Thank you for getting back to us, djones.

Since your bank account is already connected to QuickBooks Online, you can exclude the payment. Then, if you need to assign them to the correct account, you can do so by going to the bank register. 

Here's how to exclude:

1. From the Banking tab, select Banking.
2. Go to the For review tab.
3. Select the checkbox of the transactions to exclude.
4. Select Exclude.

From there, you can categorize it to the correct account.

I've also added this reference as your guide in reconciling the transactions: Reconcile an account in QuickBooks Online.

Feel free to get back to this thread whenever you need help with the reconciliation process.