This how to solve this problem.
Please note the following:
- You can only use one Undeposited Funds account in QBO which is the default one.
- If you have created a new one, then you might have definitely chosen the account type to be "Cash and Cash Equivalent" and the detail type to be "Bank". Because if you chose the right types, the system wouldn't allow it go through.
- When you create it to behave as a bank, then the obvious reasoning is that you have already deposited the funds into your bank account instead of undeposited funds.
- Solution
Move the balance as it appears in your Undeposited Funds bank account to the expected destination and you can henceforth choose the default Undeposited Fund account which will definitely display your transitions as you expected to see for your subsequent bank deposit.
- Alternatively: Edit all the transactions in your Undeposited Fund bank account to the default "Undeposited Fund account" and continue your bank deposit process, you will definitely see the transactions appearing for you to continue your bank deposit.
- Assumption: I assume that you know your way around Chart of Account and Bank Deposit in QBO.
I trust this solves your issue.
