How can you edit Undeposited funds account to change to "Detail Type" in quickbooks online? It won't allow me to change it from "Current Asset"

I can tell why you're unable to change the detail type of the Undeposited Funds account, userp-byrd.

The Undeposited Funds Account is an internal “other current asset account” created by QuickBooks. It holds funds until you are ready to deposit them. Hence, you're unable to change the detail type.

It serves as the default 'deposit to' accounts when you receive payments and bank deposits to complete invoicing process.

Check out this link for more details: What’s the Undeposited Funds account?

Learn more about setting up accounts through this article: Add an account to your chart of accounts in QuickBooks Online.

Let me know if you need anything else with QuickBooks Online. I'm always around to help manage your bank register.

I understand the purpose of Undeposited Funds account. When I receive payments for invoices the payments go to undeposited funds. However, I am unable to select from there the items I want to deposit.  I reading some forums online, one person had same problem and was told to correct the "Detail Type" in the account set-up to Undeposited Funds.  Mine says "Current Asset" and it won't allow me to change that. Once that was corrected for her, she was able to make deposits from her undeposited funds account.

I appreciate your prompt reply, @userp-byrd.

You got it correct. The option to change the detail type of the Undeposited Funds account is not possible in QuickBooks Online (QBO). As my colleague stated above, the account is an internal “other current asset account” created by QuickBooks to hold your funds.

As a workaround, you can create a Current Asset account and deposit the funds from there instead of the Undeposited funds. Let me walk you through the steps:

1. Go to the Gear icon.
2. Select Chart of Accounts.
3. Click New to create a new account.
4. In the Account Type drop-down, choose an account type.
5. From the Detail Type drop-down, select the detail type that best fits the transactions you want to track. 
6. Give your account a Name and Description.
7. Enter the needed information and select Save and Close when done.

You can also check this link for more details about the process: Add an account to your chart of accounts in QuickBooks Online.

Once done, you can now use the account to record your customer payment. Just select your Current Asset account from the Deposit to drop-down menu. 

Let me also add these links that you can use for reference in case you need to make a bank deposit and reconcile your account:

• Record and make bank deposits in QuickBooks Online
• Reconcile an account in QuickBooks Online

I’m always ready to assist you if you have any other questions or concerns about managing your Undeposited Funds or with your accounts. Tag me in your reply and I’ll sprint back into action. Have a good one and keep safe.

Trying to DEPOSIT undeposited m but  I do not see the undeposited funds. I can see them in the Chart of Accounts.

Hi there, @BobDecker-1952. Thank you for reaching out. I'm here to cover everything for you so you can deposit your Undeposited Funds payments accordingly.

If you didn't see the undeposited amount when making your deposit, it's possible that the money was already transferred to your designated bank account. Let's ensure that the Undeposited Funds is selected as a deposit account when recording your payment from the Receive Payment window. This way, you can transfer the amount to your bank anytime. 

For now, you can review your transactions to isolate the issue.

1. Open the payment.
2. Check the account under Deposit to.
3. Ensure that Undeposited Funds is selected.
4. Save the transaction.

When you're ready to make a deposit, follow these steps:
 

1. Go to the +New icon, then Bank deposit.
2. Select your bank account under Account.
3. Choose the undeposited payments from the Select the payments included in this deposit section.
4. Click on Save and Close.

I'm also including these materials for your reference about receiving and making deposits in our system:

• Deposit payments into the Undeposited Funds account in QuickBooks Online
• Record and make bank deposits in QuickBooks Online

 I'm happy to help you today. If you have other questions, notify me by utilizing the comment section below. Keep safe!