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alext-pobox-com
March 17, 2022
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Why are some of my paid invoices showing as "Paid" and some are showing as "Deposited"?

  • March 17, 2022
  • 1 reply
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I'm not sure if this is something I need to worry about but I have some invoices that customers paid with a check or cash. These are showing as "Deposited" in QB. However, invoices where the customer paid by the QB link and were then put in my bank account are showing as "Paid". Do I need to worry about why I have invoices in both states? Or is this normal? I don't want my reporting to be messed up.
Best answer by MariaSoledadG

I'm here to clear out some details about the difference between paid and deposited status, alext-pobox-com.

 

QuickBooks Online (QBO) uses the Undeposited Funds account as the default holding account for any funds received. Transactions deposited to this account will show as Paid status. While those deposited to a bank account will show as Deposited. You'll want to deposit them to a specific bank account to change the status to deposited, follow the steps below: 

  1. Click + New.
  2. Select Bank deposit under Others column.
  3. On the Choose an account drop-down, select the bank account you wish to deposit the payments.
  4. In the Received from column, select the invoices by putting a checkmark on the box.
  5. Then, click Save and close.

 

Additionally, when QuickBooks download the latest transactions, it looks and tries to match with those you've already entered in QuickBooks. Learn from this article for more details: Categorize And Match Online Bank Transactions In QuickBooks Online. 

 

Feel free to let us know if you need anything else about invoices. We're here to further assist you.

1 reply

MariaSoledadG
MariaSoledadGAnswer
March 17, 2022

I'm here to clear out some details about the difference between paid and deposited status, alext-pobox-com.

 

QuickBooks Online (QBO) uses the Undeposited Funds account as the default holding account for any funds received. Transactions deposited to this account will show as Paid status. While those deposited to a bank account will show as Deposited. You'll want to deposit them to a specific bank account to change the status to deposited, follow the steps below: 

  1. Click + New.
  2. Select Bank deposit under Others column.
  3. On the Choose an account drop-down, select the bank account you wish to deposit the payments.
  4. In the Received from column, select the invoices by putting a checkmark on the box.
  5. Then, click Save and close.

 

Additionally, when QuickBooks download the latest transactions, it looks and tries to match with those you've already entered in QuickBooks. Learn from this article for more details: Categorize And Match Online Bank Transactions In QuickBooks Online. 

 

Feel free to let us know if you need anything else about invoices. We're here to further assist you.

N
NettyPH
August 3, 2022

Does this apply for quick books self employed? I have an invoice paid on 7/28 that has not been deposited. I do not see the option for unreleased funds. 

    DivinaMercy_N
    DivinaMercy_N
    August 3, 2022

    Hello there, @NettyPH. I'm happy to share with you some information on how payments are deposited in QuickBooks Self-Employed (QBSE).

     

    QBSE and QuickBooks Online (QBO) are two different programs. In QBSE, when processing invoice payments for the first time, this usually takes 5 business days before the funds are deposited in your bank. This takes a bit longer while your account is being set up. 

     

    Once the set-up is completed, the next payment will only take 1 to 2 business days to be deposited into your account. This will still depend on the bank. For reference, check this article: Common questions about payment deposits in QuickBooks Online.

     

    However, if the payments still show as undeposited even after the given period, I recommend reaching out to our Customer Care team to verify the status. They use specific tools to pull up your account in a safe place and can also provide additional troubleshooting steps to resolve this if necessary. Here's how:

     

    1. In your QBSE company file, select the Assistant tab.
    2. Next, type Talk to a Human and enter a brief description of your concern.
    3. Then, choose either Get a callback or Start a chat.

     

    Please let me know how the interaction with the support goes. If you have additional questions about processing payments in QBSE, feel free to add a reply below. I'm always here ready to lend a hand. Stay safe.

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