Undeposited Funds account

Hi there OEL,

it's vital that your accounts have the correct totals in order for your books to be balanced. QuickBooks Online is a great tool able to help you keep track of transactions so you can view the financials of your company. I can point you in the right direction for assistance with adjustments.

You could do a journal entry to move money to or from the Undeposited funds account while affecting another account. In order to do so, you can click on the +New button, then Journal entry. In order to know which other account to affect, as well as the amount needed for the adjustment, you'd need to reach out to your accountant, as their accounting expertise will be able to guide you in making these choices so your book can be well balanced. You can add them as a user to your account by going to the My accountant tab. You can also find an accounting professional near you that has experience using QuickBooks by clicking on the Find a pro to help button located in the My accountant tab.

If you have any other questions, feel free to reach out here.