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M
Michellely
April 12, 2022
Question

Undeposited Funds not showing up in Bank Reconciliation

  • April 12, 2022
  • 1 reply
  • 0 views

I am trying to reconcile the bank account. Client payments are showing in account Undeposited Fund, even though they have been deposited (in the bank & Quickbooks). But I can't find them in the reconcile. I have since changed the account where payments are deposited in QB to the actual bank account. Those are there. I have read that I can go into the Undeposited Funds account and check the box to have the payment deposited, but it does not allow me to check the box. I am using Enterprise 2021. Please help. 

1 reply

L
LollyNino_C
April 12, 2022

I want to ensure you won't go through this kind of experience again, @Michellely. I'm here to take care of your concern about your payments and deposits.

 

An invoice payment won't show up on the pending deposit window if the amount is already added to your bank account. For now, I recommend checking out the payment entry to review the Deposit To account.

 

Here's how:

 

  1. Locate and open the Receive Payment transaction.
  2. Review the details and ensure the payment is deposited to the Undeposited Funds.
  3. If not, update the account under the Deposit To section

Once done, the transaction will be pending on the Payments to Deposit window.

 

When you're ready to make a deposit, you can check out this link as your guide: Record and make bank deposits in QuickBooks Desktop.

 

Moving forward, you can set your preferences to deposit the payments into the undeposited funds to avoid future issues.

 

  1. Go to the Edit menu, then click on Preferences.
  2. Tap on Payments at the left pane, then go to the Company Preferences section.
  3. Mark the box beside the Use Undeposited Funds as a default deposit to the account.
  4. Hit OK to save the changes.

 

From there, your future payments will be deposited to the Undeposited Funds and will surely be showing up on the Payments to Deposit screen.

 

I've added these articles that you can use for matching and reconciling transactions in QuickBooks:

 

 

If you have any other follow-up questions about your payments and deposits, please let me know by adding a comment below. I'm more than happy to help. Wishing you a good one! 

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