How to Deposit Undeposited Funds in QuickBooks

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You have received payments from your customers and you cannot understand why even though you recorded the payments through the "Receive Payments" window, your bank account in QuickBooks is not reflecting the money received. Record the deposits in QuickBooks using the "Make Deposits" window to resolve this concern.

Receive Payments

  • Open the company file in QuickBooks and Click "Customer" on the top menu and select "Receive Payments" to open the "Customer Payment" window.

  • In the "Received From" box in the top-left corner of the "Customer Payment" window, select the customer.

  • Find the invoice they are paying in the invoice list and click the check box in the left column next to the invoice the customer is paying.

  • Edit the "Payment" column to the amount of the payment if the customer is not paying the whole invoice. Choose whether to record the balance owed as an underpayment or as a write-off in the white box that appears in the lower-right corner of the "Customer Payment" window.

  • Fill in all the appropriate boxes at the top of the Customer Payment window and click "Save & Close" if you are done entering payments or "Save & New" to enter another payment.

Deposit Funds

  • Click "Banking" on the top menu and select "Make Deposits."

  • Place a check next to each payment you would like to deposit in the list in the "Select Payments to Deposit" section of the "Payments to Deposit" dialog. Click the "Select All" button in the bottom-left corner to choose all the payments.

  • Click the "OK" button to close the dialog and reveal the "Make Deposits" window.

  • Review the bank account to make sure you are depositing the funds to the right account in the "Deposit To" box in the upper right corner of the "Make Deposits" window.

  • Enter the correct date in the "Date" box located top-center in the "Make Deposits" window.

  • Click the "Save & Close" button at the bottom-right corner of the "Make Deposits" window if you will be making one deposit. If you would like to make additional deposits, click the "Save & New" button to the right of the "Save & Close" button.

  • Use the "Record Deposits" in the "Banking" section of the QuickBooks "Home" page as an alternative way to get to the "Payments to Deposit" dialog.

Tips & Warnings

  • If you submit deposits on five different deposit slips to the bank, do not combine those transactions in QuickBooks. Recording deposits in QuickBooks exactly as they are deposited in the bank is a good practice that will pay off when you reconcile your accounts through the time you save not trying to figure out which bank deposits are included in each recorded entry.

References

  • Photo Credit Hemera Technologies/Photos.com/Getty Images
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