Solved

Undeposited funds

Forum|Forum|4 years ago
October 26, 2021
1 reply
0 views

I am hoping some other newbie has made the same mistake as I have.

We started Quickbooks desktop pro in the beginning of August. I set up the bank with direct feed.

I downloaded all of the transactions and reconciled both August and September. Feeling good about everything, I then noticed that I had 82 items in my deposits to record.

So I did some research and saw that I needed to record these deposits. Feeling accomplished I was almost done recording and I had to look something up so I got out and went into my register only to realize that these deposits that I was recording was increasing my register balance. Oh no!!

How do I correct this mistake? I realize I did this backwards. Kind of like putting the cart in front of the horse.

Qnyine have any suggestions for how to fix this? I don’t want to create a bigger mess than I already have.

QuickBooks Desktop

Best answer by BigRedConsulting

RE: How do I correct this mistake?

Delete the duplicate deposits that don't contain the transactions from Undeposited Funds.

Then, in the future, record the deposits you created from your payments before downloading detail from your bank, and the Bank Feeds feature will then likely match up the bank's activity with the transactions you've recorded in QuickBooks - and so not duplicate the deposits.

BigRedConsultingAnswer

RE: How do I correct this mistake?

Delete the duplicate deposits that don't contain the transactions from Undeposited Funds.

Then, in the future, record the deposits you created from your payments before downloading detail from your bank, and the Bank Feeds feature will then likely match up the bank's activity with the transactions you've recorded in QuickBooks - and so not duplicate the deposits.

C

Cb1985Author

Thank you so much for your assistance.

It worked beautifully.

Sign up

Login with SSO

Login to the community

Login with SSO