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kellyr2
December 16, 2022
Question

Why are payments getting stuck in Bank Deposits?

  • December 16, 2022
  • 1 reply
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Hello.  Our company receives online payments using another software that I believe is connected to our QB online.  I've noticed that sporadically a few of these payments end up "stuck" in the Bank Deposits area in QB.  Does anyone else ever experience this and, if so, do you know why this happens?  I'm in the process of researching them to see if they were recorded in the bank register and the P&L so I can delete them but it's very tedious.  I'm still learning and trying to understand.  Thank you!

1 reply

MaryLandT
MaryLandT
December 16, 2022

Hi there, kellyr2.

 

I can explain why payments are getting stuck on the Bank Deposit screen and how to check if they're already recorded in the bank register.

 

If you're using QuickBooks Payments (Merchant Services), you need to assign a bank account where deposits are posted into. There's a possibility that you've selected the Undeposited Funds account.

 

To check this, you'll want to change the bank account under the Standard Deposits section in this article: Change the account QuickBooks deposits payments into.

 

You also want to ensure transactions are recorded correctly to the Chart of Accounts. Here's how: 

 

  1. Click the Gear icon, then select Account and Settings.
  2. Go to Payments.
  3. Under the Chart of Accounts section, click the pencil icon.
  4. For Where do you want to record payments?, select the correct bank account.
  5. You can also select where you would want to record your fees under Where do you want to record processing fees?. 
  6. Click Save.

 

This should change where the deposits are being recorded. Your next step is to go to the Banking page and match transactions. Doing this will prevent duplicates on the bank register.

 

You can then review past bank deposits and check for duplicates. Here's how:

 

  1. Go to the Business overview then select Reports.
  2. Scroll down to the Sales and customers section.
  3. Choose the Deposit Detail report.

 

Review and check for duplicates. If there are, click the deposit to open it. then delete it. You can do more on your deposits by checking out this article: Record and make bank deposits in QuickBooks Online. It helps you manage and delete transactions.

 

If you want to learn more about the Undeposited Funds account, this article will discuss further: Deposit payments into the Undeposited Funds account in QuickBooks Online. It'll tell you how to put payments and what to do with them.

 

Do you need more help with your deposits? Please let me know and I'll get back to you. You can also add any other concerns for QuickBooks Online. 

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