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June 30, 2021
Question

Deposits showing up in undeposited funds account after they have been deposited

  • June 30, 2021
  • 1 reply
  • 0 views

Our company made a deposit in July 2020... 

fast forward to trying to close out the year and those same deposits are sitting in the undeposited funds...

 

1 reply

June 30, 2021

Hello, showard9503,

 

It's possible that we have entered two different deposits from the money received. We  can check the transactions history of these deposits. This can help you trace the linked transactions. I'll guide you the steps: 

  1. Open Chart of Accounts.
  2. Look for an Undeposited funds account.
    Locate and open the bank deposit, change the bank account to the correct one.
    Click Save and close

    You may need to delete the duplicate deposit. 

    Here's how:
  3. From the report page double click the deposit you want to delete.
  4. In the Make Deposits window, you'll see all the payments included on the deposit. Review them and make sure you need to start over.
  5. Right-click and select Delete deposit. Click OK to confirm.

 

For future reference, read through this article to learn more about how to deposit payments into the Undeposited Funds account in QuickBooks Desktop.

Feel welcome to reach out to me again with any questions about managing bank deposits. I would be more than happy to help.