It's my pleasure to help you with your concern, @Mjenkins2. I'll share further details to get this sorted out.
Undeposited funds is a different asset account that QuickBooks employs as a special, short-term holding account before you deposit payments into the bank. When the payment has already been deposited, the Undeposited amounts are automatically removed.
It's likely that the box to automatically deposit payments into Undeposited money is checked in your circumstance. We may access the transaction under the Undeposited funds and head to the Deposit to section to see where it is being deposited. Altering it will deposit it to the proper account.
Furthermore, if you follow the workflow to receive payment for an invoice in QuickBooks, it will automatically put the transactions into the Undeposited Funds. You'll want to deposit it to the correct bank account, we can record or make bank deposits to combine payments.
Here's how:
- On the Homepage, select Record Deposits / Make Deposits.
- From the Payments to Deposit window, choose the payments you want to combine and click OK.
- In the Make Deposits window, select the account you want to put the deposit into from the Deposit to dropdown.
- Review the deposit total and ensure the account and selected payments match the deposit slip from your bank. Use your deposit slip as a reference.
- Enter the date you made the deposit at your bank.
- Add a memo as needed.
- Then select Save & Close.
You can refer to the following articles for additional details:
Moreover, once everything is settled, you might want to utilize this link for reference for future purposes: Reconcile an account in QuickBooks Desktop.
If you need further assistance, you can always tap the Reply button and I'll get back to you as soon as possible. Have a good one!
