Question

How to Fix Deposits not showing undeposited funds in QuickBooks?

Forum|Forum|7 years ago
February 8, 2019
8 replies
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How to Fix Deposits not showing undeposited funds in QuickBooks? When I record a sales receipt and deposit it to 1499 undeposited funds account, it does not want to appear under Bank Deposit for some reason. Is there something that needs to be turned on? Thank you in advance!

QuickBooks Online

J

JamesDuanT

You don't need to turn any option on when creating a bank deposit, Slobodan.

When using Undeposited Funds in the Deposit to field, the sales receipt should display in the Select the payments included in this deposit section (Bank Deposit).

Let's review what's causing the sales receipt not to appear in the Bank Deposit window.

If you're using the Multicurrency function, make sure you set the Currency field correctly.
If you're using the Location function, make sure you select All Locations or the correct one.

You can also use this article in finding and fixing the missing sales receipt: Find and Fix Payments Missing on Bank Deposit Window.

If everything is set correctly, we might need to do browser troubleshooting steps to get rid of any cache-related issues.

Access your account through a private browser and review the Bank Deposit window.
If the sales receipt is already showing, you can clear the cache storage of your regular browser.
Use other supported browsers if necessary.

You can count on me if you need more help with this.

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Scott13

Please help me! I have exported payments from "Campground Master" software, and I now have a full list of receipts in Undeposited Funds in my Quickbooks desktop (when viewed by a Quickreport). BUT when I go to Make Deposits and click on Payments, then nothing is there! Why can't I see my receipts when opening the payments window? Very strange!

Thank you for any assistance.

KlentB

I'll share some insights about how Undeposited Funds account works in QuickBooks Desktop, Scott13.

Undeposited Funds account is used to hold all the invoice payments and sales receipts we want to combine before we create a deposit. When we run a QuickReport of the Undeposited Funds account, it will show all the transactions that we're associated with the account (including the transactions that are already been deposited to your bank account).

The sales receipts will not show in the Make Deposits window since these the transaction we're already deposited into a bank account. In addition, we can also check if the balance of your Undeposited Funds QuickReport. If it's showing zero, that all the payments have been already deposited to the bank. I'll guide you how:

Select Lists from the top menu bar.
Choose Chart of Accounts.
Right-click Undeposited Funds and select QuickReport: Undeposited Funds.
From the Dates drop-down menu, select All.
Check the balance of the report.

I've added an article that will help you in recording the money owed to your business for goods or services: Accounts Receivable (A/R) workflows in QuickBooks Desktop.

Please don't hesitate to drop a comment or start a conversation below if you need more help in managing your transactions. I'll be around to help.

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Malcolm Ziman

@Slobodan wrote:

When I record a sales receipt and deposit it to 1499 undeposited funds account, it does not want to appear under Bank Deposit for some reason.

It seems like there is a bug with new subscriptions. Is yours new?

https://quickbooks.intuit.com/community/Payments/QB-Online-Deposits-not-showing/m-p/240529#M4610

TorreC

Hey QBO gang!

I was having this problem as well, so I went to the COA and found that my customer's Undeposited Funds account was charted as an "Other Current Asset," rather than as an Undeposited Funds account. For whatever reason, it won't let me change the account type of this Undeposited Funds account. So I renamed the incorrectly charted Undeposited Funds account as "Undeposited Funds." (Same name, just with a period punctuation added) and then created the new correct Undeposited Funds account (see my screen shot to see the difference) and then deactivated the incorrectly charted Undeposited Funds account. Make sure when you do this, you don't have any payments sitting in your incorrectly charted Undeposited Funds account!

Hope that fixes it for some of you have the same problem I did!

Torre Cannavo

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lcf_finance

YES!!! This fixed it for me...thank you!!!! Unfortunate that your answer was so buried in the thread, but I appreciate you sharing.

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Chastain1

May be this helps: 1.Go to the Accountant menu. 2.Select Chart of Accounts. 3.On the Account button, click the drop-down arrow and select Show inactive Accounts. 4.Click the X icon beside the account that is inactive TellDunkin.

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Daniel Kaku

This how to solve this problem.

Please note the following:

You can only use one Undeposited Funds account in QBO which is the default one.
If you have created a new one, then you might have definitely chosen the account type to be "Cash and Cash Equivalent" and the detail type to be "Bank". Because if you chose the right types, the system wouldn't allow it go through.
When you create it to behave as a bank, then the obvious reasoning is that you have already deposited the funds into your bank account instead of undeposited funds.

Solution
Move the balance as it appears in your Undeposited Funds bank account to the expected destination and you can henceforth choose the default Undeposited Fund account which will definitely display your transitions as you expected to see for your subsequent bank deposit.

Alternatively: Edit all the transactions in your Undeposited Fund bank account to the default "Undeposited Fund account" and continue your bank deposit process, you will definitely see the transactions appearing for you to continue your bank deposit.

Assumption: I assume that you know your way around Chart of Account and Bank Deposit in QBO.

I trust this solves your issue.

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CVCDeb

Hello, I am using QB Online. My 5 deposits in the Undeposited Funds account have been checked and double-checked, they are deposited correctly into the Undeposited Funds. However, when I try to deposit them, they do not appear on that screen. My Undeposited Funds account is set up as :

Name: Undeposited Funds

Type: Other Current Assets

Detail Type: Other Current Assets

I would give anything to figure this out - I've spent the last 2 hrs trying to fix it and I can't find a solution. Ia there something incorrect about how the account is set up?

Thank you,

CVCDeb

A

Alpine Tariq

Simply because QuickBooks online changed "Undeposited Fund" Account into "Payment to Deposit", so Please use Payment to Deposit Account for your sales.

C

CVCDeb

Aww, good to know, I will give that a try, thank you!

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smittysauto10

Hello community... since about two weeks ago, we've been having the issue in which there are funds in the Undeposited Funds account for 2023, but they are not showing up when we proceed to the New Bank Deposit window. We see entries 2021 and older but not for 2022 and 2023. We have only one Undeposited Funds account, and it is active. I've already spoken with a Quickbooks technician, and no solution was reached at that time. Is there a technical bug going on? Attached are the account settings; they have not been changed. Thank you.

LieraMarie_A

Hello there, @smittysauto10.

I'll do my best to assist you in resolving this matter. Let me share some suggestions to troubleshoot the issue.

It's possible that the filters are set in a way that hides transactions from certain years. Let's adjust them to show all relevant transactions.

Select +New and then Bank deposit.
From the Account dropdown, choose the account you want to put the money into.
If you accept payments in multicurrencies, you’ll only see payments for one currency at a time. To switch between currencies, select a Currency from the dropdown menu.
If you're using the Location function, select All Locations or the appropriate one.
Then, make sure they are sorted correctly. Sorting by date in ascending or descending order can help you locate the entries you're looking for.
Choose the checkbox for each transaction you want to combine.
Select Save and new or Save and close.

If they're still missing, you may have accumulated too much historical data. Whenever you visit a website, it saves some information from the web page in its cache and cookies. These files allow the websites you visit most often to load faster. Not to worry, clearing them will do the trick.

First, let's try accessing your account through an incognito window to rule out the possibility of a webpage issue. You can refer to these shortcut keys to open an incognito window in all supported browsers:

Chrome: Ctrl + Shift + N
Firefox: Ctrl + Shift + P
Safari: Command + Shift + N

If it works, switch back to your regular browser. Then, clear its cache. This way, you can access QuickBooks with a clean slate. You can also use a different supported one.

Additionally, make sure to reconcile your accounts regularly. This ensures your records agree with your real-life bank and credit card statements.

Fill me in if you need further assistance with making bank deposits. I'll be around to help.

S

smittysauto10

Greetings and thank you for your reply. I tried all suggested, and the issue remains. Currency and Location are irrelevant, my account does not have those options. Attached is a picture of the top of my Bank Deposit screen. As you can see, the most recent item is from 2020. The Chart of Accounts shows the 2023 Undeposited Funds, but they are not showing in the Bank Deposit window. What else can we try, or who do I speak with? We need to resolve this.

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bhel

Hi What if all the guidelines that you mentioned; Correct currency and selected All locations, are all set but still the undeposited collections still not showing. What would be the problem and how to fix it?

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MelroseV

Thank you for joining this thread, @bhel. Allow me to share some information about the undeposited funds.

The undeposited funds possibly appear because they were recorded under a different account. Make sure to use the Undeposited Funds account for such transactions. Additionally, there's a chance that the payment has been included in an earlier deposit. To resolve this, verify your prior deposits to confirm whether the payment has been accounted for.

If the issue persists, I recommend contacting our customer support team. They can help you check your account and investigate the issue further.

Sign in to your QuickBooks Online company.
Go to (?) Help.
Select Contact Us, then select a topic to connect with the right expert.
Choose your preferred way to connect.

Additionally, let me share these articles you can read to learn more about managing your business flow and data reports in QuickBooks:

Don't hesitate to return to this forum or respond directly to this message if you encounter any further challenges with banking transactions or other QuickBooks Online tasks. We're here to assist you with any aspect of QBO that you might find challenging.

B

bhel

Thank you for your input. I’ve properly posted the new processed received payments, but they do not appear for selection in the bank deposit module. These payments do not match any prior deposits since they are new postings intended to match the deposit in pending bank feeds, and all currency and location settings are correct. I’m confused about what the problem could be. Can you help clarify?

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