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How can i confirm the banking information if i never received the verification deposit?
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Banking
When my payment comes into quickbooks where do i transfer that payment into my bank
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Banking
I have the two options about transferring your payment into your bank when it comes to QuickBooks Online (QBO), @michael631.
If you've manually recorded the customer payment in QBO, the Undeposited Funds may have selected as the Deposit to account. This account holds the transaction in the software. Let's record a deposit so you can transfer it to your bank. I'll guide you how.
- Go to + New from the left menu.
- Select Bank Deposit.
- Choose the bank account you want to deposit the money into from the Account drop-down.
- In the Received From column, check the box beside the payment.
- Click Save and close.
For the detailed instructions, check out this article: Recording Bank Deposits.
Once done, you'll have to match the downloaded transaction to the deposit you've entered above. This ensures your financial records are accurate in the program.
You can always run the Deposit Detail report from the Reports menu. It lets you view your completed bank deposits. You can also select individual ones to get more details.
If your QuickBooks Payments account is connected to QBO, there isn't a need to transfer the payment into your bank. It's because we automatically process and categorize it into the right account. Just make sure the correct bank is selected in the Where do you want to record payments? section in the settings. If not, I'd suggest changing it.
After that, I recommend reconciling your bank account monthly. It helps you detect any reconciliation differences early. This way, your account in QBO matches your bank statement.
I'm here anytime you have other concerns. Keep safe always, @michael631.