Skip to main content
S
skibumps90
February 18, 2023
Question

Some deposits not classified correctly.

  • February 18, 2023
  • 1 reply
  • 0 views

Hi,

I’m not really sure how to ask my question.  I’m doing a Year End on a rental property and a few of my rental payments are dropping off my report - P&L by class.  Each month I create a sales receipt for each tenant for the month and include the class.  The type of payment is “rent”.  When I receive the payment, I use Make Deposits and apply it to my account.  Most show up under the correct class, but the some are being listed as “unclassified”.   I can’t figure out what is causing this.  There could be something wrong with my “Undeposited Funds” but I have been confused on how that account is supposed to work.  I’m not creating Sales Receipts for any other reason other than rents.  Tenants are my only customers.  This seems more like a Banking question than a Reports question but let me know if I'm wrong.

 

Any input is appreciated.

    1 reply

    A
    AileneA
    February 18, 2023

    Hello, skibumps90. 

     

    The amount you see in the Unclassified column are those line items or transactions that QuickBooks can't classify the correct classes for some transactions in the P&L by Class report resulting in unclassified amounts.

     

    To know more about those unsupported transactions, see this article: What transactions are not supported by Profit and Loss by Class in QuickBooks Desktop? From there, you can see transactions that may cause the issue and check what you should do to clean up your report.  

     

    Regarding the unspecified amounts on your Profit and Loss, you'll want to classify transactions at the item level, not just the transaction level. In this way, the amounts ​​are reported in their respective classes. You can find more details in this article: Why does my Profit and Loss by Class report have unclassified amounts?

     

    In addition, I've added these articles to learn more insights about creating reports:

     

     

    Please know that our doors are always open to help you with any QuickBooks-related concern. 

    S
    skibumps90Author
    February 18, 2023

    The unclassified ones are showing on the Transaction Report, but I'm not sure if they are line or transaction.  I will read the articles that you supplied.  Thanks!

     

    But 90% of these are reporting correctly and I input the same way every time.  So not sure why these few would be different.

    S
    skibumps90Author
    February 18, 2023

    So I discovered that the problem deposits have a common issue.   On the Customer Balance Detail report all the correct ones have a Sales Receipt with the account Undeposited Funds, and also a Sales Receipt with the account Rental Payment.  Then when I make the deposit, the transaction shows as a Deposit with the account Undeposited Funds.  On the problem transactions QB isn’t generating the Sales Receipt with the account Rental Payment.    See the 9/2022 & 12/2022 transaction I attached as an example.   I can’t figure out what is causing this.

    Terms & ConditionsAccessibility statement