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November 18, 2022
Question

Will my undeposited funds ever be put into my account?

  • November 18, 2022
  • 1 reply
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1 reply

November 18, 2022

Welcome, and thank you for posting in the Community, @rangerzulu01-gma. I'd be happy to help you move the money from the Undeposited Funds to the right account. 

 

The Undeposited Funds account is a default account generated automatically in QuickBooks Online. This is the money that your company has received from customers but has not yet deposited into your bank account. Thus, you’ll need to make a bank deposit to offset or zero out the Undeposited Funds account. 

 

Here’s how:

 

  1. Go to the + New and select Bank Deposit.
  2. From the Account ▼ dropdown, choose the account you want to put the money into.This image shows a normal bank deposit screen with a number of deposits on the page.
  3. Select the checkbox for each transaction you want to combine.
  4. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
  5. Select Save and close.

 

I’ve added an article you can read to learn more about undeposited funds in QuickBooks Online: What’s the Undeposited Funds Account?

 

For more information about moving the money from the Undeposited Funds to the right account, visit these resources:

 

 

Once done, you’ll want to review your accounts to ensure your QuickBooks account matches the real-life bank statement: Reconcile an account.

 

Feel free to reach out to me if you have any other concerns or questions about Undeposited account. I’ll be right here to answer them for you. Have a good one.