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Level 3

Deposits only list "Undeposited Funds" in the chart of accounts

Right now, we deposit into undeposited funds so that our monthly bank statement lines up with our chart of accounts in QBO. However, even after we move the undeposited funds into the proper account (our undeposited funds amount is currently zero), the transactions in the register for our actual bank account only show undeposited funds. In order to see what customer name is within that transaction, I have to edit the transaction. Is there something I'm doing wrong here?

3 Comments 3
QuickBooks Team

Deposits only list "Undeposited Funds" in the chart of accounts

It's nice to have you in the Community, @EthanDale


I want to ensure your concern about Undeposited Funds gets taken care of. However, I have to ask for some details about the issue. 


May I know how you move the transactions from Undeposited Funds to the proper account? Also, would you mind attaching a screenshot on this post? This way, I can provide you with the best resolution.


I'd appreciate any additional details you can provide. I’m looking forward to your reply. Have a great rest of the day.

Level 3

Deposits only list "Undeposited Funds" in the chart of accounts

Once the funds are in Undeposited Funds, I go up to "New" and I click Bank Deposit. Then I select what bank account they are going to be deposited in, and then I save it. It shows up in the bank register like this after doing that.




Deposits only list "Undeposited Funds" in the chart of accounts

Thanks for getting back with attaching a screenshot, @EthanDale.


I'll share some information and alternative about deposit transactions names missing in the bank register in QuickBooks Online. So, you don't need to edit the transaction to see the customer name. 


As there is already cash in the Undeposited, the client's name will be hidden in the registry. Deposits are often composed of multiple payments from different entities—that's why the transactions doesn't show your customer's name. 


However, if you manually add the transaction in the Deposit form, the customer's name is visible in the register. See the sample screenshot below for your reference: 


For more information about the topic, check out this article: Record and make bank deposits in QuickBooks Online.


In addition, don't forget to reconcile you bank to make sure they match your bank and credit card statements. 

Lastly, visit these articles below on how to add account numbers and get instant deposit in QuickBooks: 



If you're in over your head with QuickBooks, don't hesitate to drop me a line. I'm here for you, and I'll be happy to help. Keep safe, EthanDale.

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