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CraftDean
January 18, 2024
Question

Undeposited funds

  • January 18, 2024
  • 1 reply
  • 0 views

I have a large amount of old transactions that are sitting in my undeposited funds as checks. I have already deposited them into my bank account. I am wanting to clear these amounts from the undeposited funds. Can I just select them all to deposit? I cannot imagine QuickBooks sending anything, but I want to make sure QuickBooks does not send all of this money that I have already collected leaving me having to send the money back. How do I prevent this going forward?

1 reply

MariaSoledadG
MariaSoledadG
January 18, 2024

Let me help you sort out your transactions under your undeposited funds, CraftDean.

 

In QuickBooks, you can either deposit, delete, or void the transactions to clear this. 

 

If these are transactions that are literally entered as deposits in QuickBooks and are showing again, this may be caused by data damage. You'll want to rebuild the data to fix the most common issues.

 

In the meantime, to fix the duplicate transactions, you can delete them from the Undeposited Funds account. To do so, follow the steps outlined below: To do so, follow the steps outlined below:

 

  1. Go to your Chart of Accounts and look for the Undeposited Funds account.
  2. Right-click on it and select Quick Report: Undeposited Funds.
  3. Double-click on each transaction that you want to delete to open them.
  4. Select the Delete button and choose Yes to confirm that you want to delete it.

 

On the other hand, if this deposit isn't linked as payment, you can edit the deposit and include the payment. If rebuilding the data doesn't fix the problem, you can remove the transaction and then add the payment to the deposit.  However, I still recommend reaching out to your accountant for the best option to take. 

 

Furthermore, learn how you can add bank transactions after you receive the payments, go through this article for more details. Add and Match Bank Feed Transactions In QuickBooks Desktop.

 

You can always reply below if you need assistance when tracking and managing your sales transactions. It's always our priority to keep your records accurate. Have a great day!

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