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Fedler
April 8, 2024
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Undeposited Funds Account Question

  • April 8, 2024
  • 1 reply
  • 0 views

After I have received the clients/customers payment in Quickbooks, then processed the deposit and recorded it.  Why does it still show under the Customer Information Screen, payment in undeposited funds?

 

Is there a step that I am missing to ensure that the money is showing up in the banking account that I want it too?

 

Thank you in advance.

 

Sparky

Best answer by JamesM4

I see what you're saying. In order for the transactions to be recorded correctly, I  recommend referencing the transaction workflows provided in the following article that shows you how to: Get started with customer transaction workflows in QuickBooks Desktop. Let me know if you have questions as you browse through the article. I'll be on standby. 

1 reply

J
JamesM4
April 8, 2024

Hello Sparky,

 

Thanks for contacting us here. QuickBooks is a versatile program that's designed to help you streamline your work. It's important you get the help you need and I'll be happy to assist. 

 

The reason the payment is showing undeposited funds is that that's the account it's linked to. You can edit the transaction in question by opening it and entering the appropriate account. Also, to make sure I'm on the same page as you, could you walk me through how you're recording the payment? For reference, here's a helpful article that shows you how to: Record an invoice payment. 

 

In the meantime, feel free to ask other questions. I'm here to help steer you in the right direction. 

F
FedlerAuthor
April 8, 2024

Thank you for your reply.

 

I receive the payment and in Quickbooks Desktop, on the Home Screen I click on receive payments.  I complete the next screen with the information required.  Customer name, select the invoice that it is being applied to etc.  I then either choose save and close or save and new depending if I have more then one payment transaction.

 

From there I go to record deposit, after I have confirmed that the money is in our bank account.  On the record deposit screen I ensure that I am entering the date that the amount was deposited to our account, as well as which account.  There are times when I can select (check off) more then one amount, and sometimes it is a single amount.

 

If the payment received is cash or cheque, those I print out a deposit slip, and take to the bank, and attach the receipt to a copy of the deposit slip.

 

Once the deposit is recorded from the home screen, I am not doing anything other than the monthly reconciliation with our bank statement at the beginning of the month, for the previous month.

 

I have not had any problems with the deposits not being correct between quickbooks and the bank statement, but was just wondering with the transaction still saying undeposited funds when looking in the customer information.

 

I hope that this has answered your question.

J
JamesM4Answer
April 8, 2024

I see what you're saying. In order for the transactions to be recorded correctly, I  recommend referencing the transaction workflows provided in the following article that shows you how to: Get started with customer transaction workflows in QuickBooks Desktop. Let me know if you have questions as you browse through the article. I'll be on standby. 

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