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danielcas
July 19, 2022
Question

Paid invoiced was deposited into closed bank account

  • July 19, 2022
  • 1 reply
  • 0 views

Hi,

My business partner and I closed our business bank account and opened a new one. On the same day I updated quick books with the new bank account but was unaware that i also had to change the preferences telling quick books which account to deposit the money into. So now paid invoices were deposited into the closed account, (dont know how since it was closed).

Anyways, i went to the bank and the the bank teller said that the money is in the process of being returned to quick books. My question is, does quick books automatically update when the funds have been received and send it to the new account? Or do i have to do something?

1 reply

C
Charies_M
July 19, 2022

Thanks for sharing your concern with us, danielcas.

 

When a payment is deposited into a closed bank account, it will be declined and returned approximately 2-3 business days. 

 

Then you'll need to update your bank information to make sure deposits will be processed successfully.

  1. Log in to your QuickBooks Payments account.
  2. From the menu, select Account, then Account Profile.
  3. Go to the Deposit Account Information section, then select Edit (or Add if you haven't added an account yet).
  4. Select how you want to receive the code (text or voice call).
  5. Enter the code in the pop-up window.
  6. Enter the Account Type, Routing/ABA Number and Account Number, then select Submit.

For more details on how to do this, check out this article: Update business and account information.

 

Once done, I suggest contacting our Payment Support Team to review and trace the deposit transaction and help you with the next steps. You can contact them through this link: Payments Support.

 

For more information, click on the following links:

Also, you'll want to read more about sales and customers. This provides information about managing your company's revenue as well as other customer-related issues.

 

You're always welcome to visit the Community anytime you need help processing payments. Have a good one.

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