- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Banking
I am having the same issue as several other people above.
I am in a mostly cash business that I use Square for to track all my sales including cash and credit cards. When my link squared account updates to my Quickbooks online, it will match up all the credit card deposits with my Business checking account after review. I will then add all my Cash / Check transactions to Undeposited Funds in which I will build up my cash and make bigger deposits at one time. These will not add up to the exact amounts that I deposit since we keep some Cash on hand.
My question is, can I transfer all the Undeposited Amounts into my Cash account and then reconcile my banking deposits by transferring the Cash Bank deposit amounts from Cash to my business Checking which would then show whatever amount that I didn't deposit in my Business checking as Cash ?