Walk me through QuickBooks Payments depositing

Hello there, DragonMoney.

I'll provide some information on how payments are processed in QuickBooks Payments and how to ensure funds are in the correct account.

Normally, when payments are processed through QuickBooks Payments for your invoice payments, they are automatically recorded in our system. At the same time, QuickBooks automatically adds a deposit after you receive the funds in your account.

It's also important to keep in mind that the Undeposited Funds account in QuickBooks acts as a temporary holding account for funds received but not yet deposited to a specific bank account.

However, if you receive this alert "Some QuickBooks Payments deposits weren't automatically recorded. After you receive the funds in your account, record them manually as a Bank Deposit", you'll need to make a bank deposit and include the payment.

In your case, since you've already created a bank deposit, you just need to review it and make sure to include the payment in the Select payments in this deposit section. All transactions from your Undeposited Funds account will also appear in the bank deposit window.



By doing so, we can ensure that the funds are accurately recorded and allocated to your account in our system. You can check out this article to learn more: Record and make bank deposits in QuickBooks Online.

I've also added this link as a future reference in reconciling these transactions: Reconcile an account in QuickBooks Online.

Let me know if you have follow-up questions or other concerns about banking and payments. I'll be here to help. Have a great day!

Thank you, that is helpful.

My concern now is that the entry I see in the Bank Register says 12000 * Undeposited Funds and not the correct account. Did I miss a step?

Hello there, DragonMoney.

Let me add information about depositing the undeposited funds to the appropriate account.

In QuickBooks Online, undeposited funds will hold payments that are not physically deposited. Once deposited in your bank account, you can create a bank deposit in the system to keep your data accurate. Since the funds came from the undeposited funds, you see it associated with the account in the bank register, which shows where the money came from.

Moreover, you might want to review this material to learn more about the undeposited funds: What’s the Undeposited Funds account?

On the other hand, consider running and customizing reports to have an overview of the financial status of your business, which can guide you in making informed decisions.

Feel free to inform us in the thread if you need further assistance recording your funds or any related concerns in QuickBooks Online. We can always be here to help.