How to Deposit to Undeposited Funds in QuickBooks
If you have payments in undeposited funds that have already been deposited, you are probably over-reporting your income. To correct this, find the deposits and note the account you used (most likely an income account). Then go back to the Make Deposits screen and select all the Undeposited Funds that have already been deposited. Add a line at the bottom of the deposit, with a negative deposit amount using the income account that you used when you made the other deposits. This will make a $0 deposit into your account, reduce your revenue down to the correct amount, and clear out your undeposited funds.
When making deposits in the future, select each payment included in the deposit you’re about to make from the undeposited funds screen first. Then add any additional deposit items that aren’t listed to the deposit so that it matches up to the total amount of the deposit you’re making.
This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.