Accountant Tools month end review

Greetings, @Kimpelb.

These may have been bank transactions that were uncategorized to its invoice payment. When it flows to QuickBooks Online (QBO), you'll need to assign and categorize these transactions to their respective income accounts. Thus, QBO will assign these transactions to Uncategorized Income when it is uncategorized.

In the future, if you ever see Uncategorized Income in the “Category or Match” column, you should select the appropriate category (or account from your chart of accounts).

Here's how to categorize the transactions

1. On the Banking page, select the For Review tab.
2. Select the checkbox for each transaction to which to assign the same payee, category, class, or location. You can easily select multiple rows by selecting the first, holding down shift, and selecting the last.
3. From the Batch Actions drop-down menu, select Modify Selected.
4. Use the fields in the Modify Selected dialog to specify the Payee, Category, Class, or Location to assign to all of the selected transactions.
5. The Class and Location fields only appear if you have set up classes or locations on the Account and Settings (or Company Settings) Advanced tab.
6. Select Apply.

I'll add this article as your reference in assigning and categorizing bank transactions with your actual invoice payments: Assign, categorize, edit, and add your downloaded banking transactions.

If you wish to customize your financial reports in QBO to focus on details, you can refer to this article: Customize reports in QuickBooks Online.

Please feel free to leave a message if you have more questions. I'll keep my notifications open. Have a good one!

My work flow is the following:From invoice,receive payment into undeposited funds,  and then make the deposit to the bank, match to the download. Is this not correct?

I've got the confirmation you need about your follow-up concern, @Kimpelb. 

Based on your scenario, it looks like the downloaded transaction is a single deposit. Since your bank recognized several payments as a single deposit, it's a great way to reflect this process in QuickBooks Online Accountant (QBOA). I'd agree with you to put the invoice payments into the Undeposited Funds account. Then, record a bank deposit to combine them. After that, match it to the downloaded transaction. Thus, your workflow is correct.  

I recommend running the Deposit Detail report from the Reports menu. It lets you view your past deposits and their combined payments. You can also select individual deposits to get more details.

In case multiple invoices are still showing as uncategorized income, you can perform the steps provided by my peer above to fix them. 

Aside from the Month-end review feature from the Accountant Tools, I'd suggest reconciling both you and your client's account. It helps ensure the accounts in QBOA match the bank statements. Just click Reconcile under Quick Links (see the screenshot below). To learn more about the other tasks you can perform from this toolbox, visit this article: Accountant Tools Overview. 

Please know that I'm here anytime you have other concerns. Take care always, @Kimpelb.

All accounts are reconciled and the deposit detail looks fine.

The previous advise did not help.

Thanks for letting us know the results, @Kimpelb.

I recommend calling into our Online Support for further assistance. Rest assured, they have the tools that can get you into a screen-share with the agent and help perform more troubleshooting to get to the bottom of this behavior. Here's how to get in touch:

1. Sign in to your QuickBooks Online account.
2. Go to the (?) Help icon at the top-right of the page, then Contact Us.
3. Type in your question or concern in the Description Box then hit Let's Talk.
4. Choose how you want to get contacted.

You'll hear from an agent shortly! Keep me updated on how the conversation goes.

I'll be here if you need further assistance. Have a beautiful day.

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I was already on the phone for 2 hours with support. They could not figure it out either, the girl finally just never came back on the phone. I wish she would have just said and not left me hanging. Thank you.

I appreciate your patience a lot, @Kimpelb.

I want to make sure this is taken care of. I'll share with you the steps on how to resolve the deposit issue.

In addition to the details I've provided and my colleague's answer given above, these may be payments that were entered through Bank Deposit instead of Receive Payment. The deposits must be linked to a sales transaction.

You can review, find and edit the Deposit entry in your Bank Register.

Let me show you how:

1. From the left menu, select Accounting.
2. Select Chart of Accounts under the Toolbar.
3. Find the account you deposited the payment to, then select View Register (or Account History).
4. Locate and choose the correct deposit, select Edit.
5. On Bank Deposit screen, scroll down to Add funds to this deposit, then find the fund you need to edit.
6. In the Received From column, search and choose the appropriate Customer name.
7. In the Account column, search and select Account's Receivable, then select Save and Close.

Once the Deposit entry is updated, apply it as a credit to the invoice through these steps:

1. Select + New.
2. Under Customers, select Receive Payment.
3. Select the Customer's name. You should now see all open customer invoices and outstanding credits.
4. Add the Payment date.
5. Under Outstanding Transactions, select the Invoice you need to mark as paid.
6. Under Credits, select the Deposit entry, then select Save and Close.

Please leave us a message again if you have more questions. I'll be around to help. Stay safe and well!

I have the same problem and none of these steps apply to what is going on.  I used "Receive Payment" when my clients pay their invoice.  My invoice and payment are linked.  Nothing is uncategorized and the journal entries are all complete - sales and A/R, then from A/R to Checking Acct.

But all my invoices show up in the month-end review tool as "UNCATEGORIZED TRANSACTIONS".  

There isn't any missing information/blank fields.  I can't find anything to do to clean up my month-end review tool.  Can you offer any more guidance?

Thanks for sharing the details with me, @NBR, and great job in ensuring to categorize those transactions in QuickBooks Online (QBO).

Allow me to share some insights as to why you’re seeing those transactions as uncategorized. There’s a possibility that the date of the report is sorted out to the day the payment was not yet applied to the invoice. Thus, QBO shows it as "Uncategorized Transactions". 

To get around this, you’ll want to ensure the data is sorted out to the date when you already applied the payment to the invoice.

Let me add this article that you can utilize in personalizing reports in your QBO account: Customize reports in QuickBooks Online.

It’s also great to memorize the report and save its current settings. That way, you won’t have to customize it every time you need to focus on some details.

You can always leave a reply below if you have other concerns or questions about QBO. I’ll be more than happy to help you out again. Keep safe!