Easy Guide For Undeposited Funds in QuickBooks
                     Undeposited Funds in QuickBooks Online: 
How to Add New Payments?
Mostly, every long-time QuickBooks Online user must have heard about the infamous 
undeposited funds account, but still, half of you might not know how to use it. In Undeposited 
funds in QuickBooks, record the payments before you physically deposit the same in the bank. An 
undeposited funds account is seen as an asset. It is like an online drawer where the cash and 
checks are kept & waiting to be deposited. So, through this article, we specifically focus on how to 
add the payments to the accounts & finally deposit them into the bank account. Read till the end 
to find out.
Looking for someone who can explain the importance of undeposited 
funds account thoroughly, then call at +1.833.802.0002.

Two Effective Steps to Place Payments in Undeposited Funds Account
You can easily add payments from your clients or customers in exchange for your products or 
services in the undeposited funds account until you want to combine them.
When you access the deposit slip, the payments can be easily combined into a single record. 
Therefore, your QuickBooks Online balances precisely match the bank record. The following are the 
steps you should follow to achieve it.
Step 1: Add the payments you received in the undeposited fund's account
QB has only one undeposited fund account. Use it accordingly to hold the payments. Then, you have 
to decide the account in QB Online to put the whole deposit into at the time of combining it.
Now based on how you are planning to process the payment & enter the transactions in QB, 
follow the below steps:
Downloading the records of bank & credit card transaction
If you are going to bridge the bank & credit card accounts with QB, it will automatically download 
all the previous transactions. So, QB already has the necessary details & cut short the process of 
combining the transactions or utilizing the undeposited funds account. All you have to do is 
categorize it manually.
Processes transactions with QB payments
The invoice payments processed with QB payments are not needed to be added to undeposited 
Funds. However, if you wish to combine payments that are processed outside of QB Online, then:
1. Firstly, click on New.
2. Then, click receive payments.
3. Now, from the Customer dropdown menu, choose Customer.
4. Then, tick the checkbox beside the invoice you are receiving payments for.
5. Now, under the Deposit drop-down list, choose Undeposited Funds.
6. Afterward, fill out the form.
7. Lastly, click Save & Send or Save & New, or Save & Close.
Payments sales receipts that process outside of QB
1. Start by choosing the New option.
2. Click  Sales Receipt.
3. Then, from the customer drop-down list, choose Customer.
4. Then, from the Deposit drop-down list, choose Undeposited Funds.
5. Post that, fill out the sales receipt.
6. At last, choose Save & Send or Save & New, or Save & Close.
Step 2: Creating a bank deposit
In this step, when you have a deposit slip, you must record the bank deposit and combine the 
payments in QB Online. Moreover, you will automatically see the payments in the undeposited 
funds account in the Bank Deposit window. At last, you have to review the account. In your best 
interest, the balance in the undeposited funds' account is Nil, as all the payments will be cleared 
on the waiting list to be deposited.
1. In the bookkeeping or accounting section, click on the Chart of Accounts.
2. Then, look for the undeposited funds account in the list.
3. Then, choose View Register.
Conclusion
If you believe putting payments in Undeposited Funds In QuickBooks 
might make your work easy, go for it. But, side by side, make sure to clear the 
accounts' payments when they are deposited in the bank. However, if you fail 
to do so due to any reason, call at +1.833.802.0002 to save your QB from 
further problems & messed up records.