QuickBooks Self Employed and QuickBooks Online were designed separately and offer different functions, writermegs.
The former mainly track business income and expenses, calculates estimated taxes, and sends invoices for payment collection. It does not have a chart of accounts or a bank deposit feature similar to QBO. This is the reason why the payments are showing undeposited when migrating to QBO.
To clear it out, I'll help you make a bank deposit to transfer the amounts from your Undeposited Funds to your bank account. Here's how:
- Click the + New button and select Bank Deposit.
- Select all payments to be deposited.
- Enter all other required information.
- Click Save and close.
Also, invoicing in QBSE is only used for creating the transaction, sending to customers, and collecting payments. It's different from QBo where you can add inventories, add terms, and calculate sales tax. Although, you can edit or recreate them to correct your records. Let me share these articles to guide you through:
Let me also share this article for additional guidance and reference: Getting Started With QuickBooks Online.
Reach out to us again if you need anything else with QuickBooks. We're always here to help and offer our guidance again.
