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QuickBooks Team

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I can see the importance of clearing out the journal entries in the Bank Deposit page in QuickBooks Online (QBO), @SG91. That's why I'm here to guide you on the steps you need to take care of this.

 

There are times that negative value transactions in the Undeposited Funds (UF) account will appear on the Bank Deposit screen. However, the journal entries shouldn't remain on the said page since they're created to offset the negative values in the UF account. To resolve this, you'll have to first generate a report that shows your total UF. This way, you're able to review the accounts associated with the journal entries. Here's how:

  1. Go to the Accounting menu.
  2. Choose Chart of Accounts.
  3. Locate the Undeposited Funds account.
  4. Under the Action column, select the drop-down arrow, then choose Run report.

 

I've attached a screenshot below that shows the last two steps.

 

Once done, verify that the journal entries were created based on the correct way of offsetting the negative values from the UF account. You can refer to this article for the step-by-step guide: How to clear negative entries from Undeposited Funds and the Bank Deposit screen.

 

In case the issue persists even after verifying the accounts and performing a bank deposit with the journal entries, I'd recommend contacting our Customer Care team. They can securely pull up your account and further guide you with a fix. You'll first have to check out our support hours to ensure we can assist you on time. Here's how to schedule a callback to talk to one of our representatives:

  1. Go to the Help menu.
  2. Choose Contact Us
  3. Enter your specific concern in the What can we help you with? box. 
  4. Click Let's talk
  5. Select Get a callback. 
  6. Enter your contact details. 
  7. Click Confirm my call

 

I've attached a screenshot below for your reference.

 

After that, I'd also recommend reconciling your accounts every month. This is to effectively monitor your income, expenses, and the growth of your business: Reconcile an account in QuickBooks Online. It also includes instructions about editing completed reconciliations.

 

In the meantime, I'm adding this article to further guide you in managing your business through QBO: Help Guide. It contains links for video tutorials, webinars, and articles to name a few.

 

Please know that you're always welcome to comment below if you have other concerns or follow up inquiries about managing your financial accounts and transactions in QBO. I'm just around to help. Take care.

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