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Mhoward6851
December 30, 2021
Question

Intuit Merchant Account and Undeposited Funds posting to deposits

  • December 30, 2021
  • 1 reply
  • 0 views

My Intuit Merchant account posts to Undeposited funds but when I go to New Bank Deposit the funds don't show there for me to create a deposit and of course the funds are in Undeposited funds rather than the bank account so to reconcile I have to JE them over rather than create the depsoit from New.  How do I fix this?

1 reply

RenjolynC
RenjolynC
December 30, 2021

Hello, Mhoward6851.

 

I'd like to share some info about the payments.

 

With QuickBooks Payments, you don't need to use the Undeposited Funds account. QuickBooks takes care of everything for you. This means that the payment is automatically processed and moved into your bank account.

 

You'll want to check your bank if the payment is already added.

 

Here's how:

 

  1. Go to Accounting > Chart of Accounts.
  2. Find the bank and click the View register link to see the transactions.
  3. Look for the payment.

For more information about the process, you can check Step 1 in this article: Record and make bank deposits in QuickBooks Online. This link also include a video tutorial. 

 

In addition, I'm adding this link to learn more about depositing transactions in the Undeposited Funds account and how you can reconcile the account: 

 

If you have any other concerns with your QuickBooks account, please let me know in your reply. I'll be around to help you out. Keep safe.

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