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gwinterhalter
August 10, 2022
Question

What Account should be used for ACH Payments in Bank Feeds

  • August 10, 2022
  • 1 reply
  • 0 views

In QBDProPlus2022, in Bank feeds I have payments that need to be assigned an account. I think they should be assigned Undeposited Funds account but Bank feed does not allow the selection of Undeposited Fund account. What account should be used? thanks

1 reply

G
GebelAlainaM
August 10, 2022

Hi there, @gwinterhalter. I'm here to share information that helps you resolve your concern in managing your ACH payments in Bank feeds.

 

QuickBooks Desktop groups the customer payments you process each day. Since those transactions are in the Bank feeds, this also means it's posted already on your bank account. You'll need to choose the corresponding categorization like income account.

 

Additionally, if you're unsure of what accounts to use, you may consult your accountant. This way, they can advise you on the correct account to use and to keep your records accurate and ready for reconciliation.

 

For more information about Bank Feeds, please check these articles for reference:

 

 

If everything matches and you know your accounts are balanced and accurate, you're now ready to reconcile your account. Please refer to this article for the detailed steps:  Reconcile an account in QuickBooks Desktop.

 

If you have clarifications with managing your ACH payments transaction, please post a reply below. I'll be happy to help you. Stay safe!

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