Why are Quickbooks credit card payments put under Payments to be Deposited? Can QuickBooks credit card payments put under Payment to be Deposited be cleared?

Thanks for checking in with us, Vicforeman.

The system will auto-assign the customer payments into the Undeposited Funds account if you're using QuickBooks Payments. The U/F account is the default holding account for merchant services (QuickBooks Payments) transactions. You'll need to create a bank deposit to put the funds in the register and zero out the UF balance. Here's how:

1. Click the + New Plus icon. 
2. Select Bank Deposit.
3. From the Account dropdown, choose the account you want to put the money into.
4. Tap the checkbox for each transaction you want to combine.
5. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
6. Press Save and close or Save and new.

If your credit card account is connected to online banking, you can categorize and match them with the ones you've already deposited. The system will still record one entry on your register. Once done recording those deposits to your bank register, you can check the Undeposited Funds account. Doing this will help clear out any payments waiting to be deposited. Let me show you how:

1. Go to the Accounting menu.
2. Select Chart of accounts.
3. Find the Undeposited Funds account on the list.
4. Click View register.

For your reference, see the following link for the steps:

• Record and make bank deposits in QuickBooks Online
• Record an invoice payment

Here's a link for more common questions about payments and deposits in QuickBooks Online.

Just click the Reply button below if you still have other questions about handling credit card payments. I'll make sure to check on them. Have a wonderful day.