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December 11, 2023
Question

I have old pledges in my bank deposit file and need to clean up below the new year. The old bookkeeper left them and I cannot get them out with the negative journal entry. Keep get an error message the deposit is not eligible.

  • December 11, 2023
  • 1 reply
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1 reply

MJoy_D
December 11, 2023

I can help you with clearing up your bank deposit file, @catrat27

 

You can record a bank deposit transaction in QuickBooks Online (QBO) if you haven't recorded it yet that causes this balance. 

 

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.
  3. Select the checkbox for the transactions .
  4. Click on Save and close or Save and new once done. 

 

For detailed guidance with managing your bank deposits, check out this article: Record and make bank deposits in QuickBooks Online

 

You may also consider making a zero value deposit and record the negative value deposit to resolve issues with negative transactions in Undeposited Funds. Refer to the steps below. 

 

Here's how to enter Journal Entry: 

 

  1. Go to the + New button and select Journal Entry
  2. On the first line, in the Account column, select the Undeposited Funds account.
  3. In the Debit column, enter the single line deposit amount.
  4. On the second line, in the Account column, set the bank account.
  5. In the Credit column, re-enter the single line deposit amount. 
  6. Click on Save and close.

 

To offset the negative value: 

 

  1. Go back to the + New button and select Bank Deposit
  2. Select the payment and the Journal Entry you created. The total should be zero.
  3. Click on Save and close.

 

Refer to the following article for more information about clearing negative entries from Undeposited Funds and the Bank Deposit screen

 

Then, track down and move payments to Undeposited Funds so they show up in your Bank Deposit window: Find missing payments you want to deposit in the Bank Deposit window in QuickBooks Online

 

Let me know if you if you need more help clearing up your bank deposit file. I'm always here to assist. Have a great rest of the day!

catrat27Author
December 13, 2023

I tried all of the above suggestions, but when I group my negative amounts together in the bank deposit it keeps giving me the message "you are trying to select a payment in this deposit which is not eligible, please change that payment's Deposit to account to be 'Undeposited funds' if applicable to fix".   I put the deposits in the undeposited funds account, and did the journal entries to come back to zero. 

December 13, 2023

Hi there, catrat271

We appreciate the information you have provided. Once you zeroed out the balances, you should be able to link the transactions.

Otherwise, I'd appreciate screenshots of the affected transactions and the exact process you've done so far.

Feel free to reach out to me again if you need further information and clarifications. Best wishes.