I understand how important clearing out your undeposited funds without messing up your book, @ametz1201.
On top of that, I'd like to recognize your effort in searching for videos online on how to fix it. Let me add some info to help you zero out the undeposited funds without affecting your book.
To avoid affecting your account balances, we can use a clearing account to transfer the amounts. To create this account, utilize these steps:
- From the Transactions tab, select Chart of accounts.
- On the upper right corner, click the New icon.
- In the Detail Type dropdown, choose Cash on hand.
- Complete the account details.
- Tap Save and Close.
Once done, we can move the amount from the Undeposited Funds account to the clearing account using journal entries or record transfers. Yet, I recommend reaching out to your accountant for additional guidance.
After that, we can inactive the clearing account so the system will zero out its balance. Here's how:
- Go to Transactions.
- Select Chart of accounts.
- Look for the clearing account we created.
- Click the dropdown arrow beside the View register. Then, choose Make inactive.
- A prompt will show. Pick Yes, make inactive.
For future help, if you want to combine multiple transactions in a single record so QuickBooks matches your real-life bank deposits, you can read this article: Record and make bank deposits in QuickBooks Online.
If you have additional questions about managing your bank deposits and accounts, don't hesitate to come back here. I'll be willing to lend a hand. Have a good day.
