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userty
Level 1

I use a third party system for estimates. It creates invoices in QBs. The deposit invoices are created as undeposited funds. Is there a way to change that?

 
1 Comment 1
Ivan_G
QuickBooks Team

I use a third party system for estimates. It creates invoices in QBs. The deposit invoices are created as undeposited funds. Is there a way to change that?

I'm glad to share information on why your invoice payments are directly deposited to Undeposited funds in QuickBooks Online (QBO), userty.

 

The Undeposited funds account in QBO is a system-generated account intended for your invoice payments that are recorded in QBO but not yet deposited to your physical bank. Once you deposit the said amount to your actual bank, we can record a Bank deposit in QBO so that your data matches your bank statement. 

 

All your transactions from the Undeposited funds will appear on the Bank deposit page. To proceed with recording a bank deposit, kindly follow the steps below:

 

  1. Go to the + New menu and select Bank deposit.
  2. Choose the bank account where the deposited amount was credited from the Account dropdown.
  3. Refer to your deposit slip to identify the transactions included in the said deposit.
  4. Tick the checkbox for the data associated with the deposit.
  5. Once done, click Save and close.

 

To learn more about the undeposited funds account, refer to this article: What is the Undeposited Funds account?

 

Furthermore, since your data was gathered from a third-party app, QBO only relies on your data's setup before it was downloaded to the system. Then, QBO automatically assigns the deposits to the Undeposited funds account. This way, you can manually check and record the payment accurately after the said amount is deposited to your physical bank.

 

On the other hand, you might want to explore the QuickBooks Payment feature to let your customers pay you online. Once subscribed, you can let your customer pay directly from the sent e-invoice. Then, the payments are deposited directly to your registered account. 

 

For more information about this feature, please check this article: Take and process payments in QuickBooks Online with QuickBooks Payments.

 

Additionally, you can also view your sales transactions in QBO. With this, you can get a complete view of your sales transaction's status. To go over, kindly refer to this link: View sales transactions in QuickBooks Online.

 

Don't hesitate to comment below if you have more questions regarding the Undeposited funds or sales data in QuickBooks. We always have your back here in the Community. Have a great day!

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