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MrsCrawdaddy
July 20, 2022
Question

Undeposited Funds

  • July 20, 2022
  • 1 reply
  • 0 views

Hello,

When we receive money from customers, via check or cash, the payment is apply to the account and will stay in our undeposited funds account until a deposit it made to the bank. When we make a deposit, those funds are supposed to be taken out of the undeposited funds account and moved into the main account. The problem that I am seeing is the deposit is still sitting in the undeposited funds account which creates an issue with reconciling the bank accounts because the funds are not there. In order to fix this, we have to delete the deposit and re-deposit the funds. Am I missing a step or something?? This problem has been ongoing to I wanted to see how to fix this. 

Thanks,

1 reply

BigRedConsulting
BigRedConsulting
July 20, 2022

It sounds like the original deposit didn't include the payment and then after deleting it and creating it again the payments were selected. Could that be the case?

 

Note that even after you record a deposit that includes payments from the Undeposited Funds account, you'll still seem them there in the account's register, but you'll also see a corresponding entry that reduces the account balance.

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