I can set "undeposited funds" as the default holding account but it does not carry through to the actual working of the donor receipt transaction. All QuickBooks will let me use is "petty cash". No matter what I choose, when I do the actual deposit, the location of donor transactions shows up as "petty cash". While I don't think that's actually a big deal — my executive director is flipping out over using petty cash.
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Do you mean when you go to Banking > Make Deposits
that the Deposit To
account keeps defaulting to your petty cash? This defaults to the top bank account in your chart of accounts, but you can always change it in the dropdown list to the right of the Deposit To
You can change the default account for Make Deposits, as well as Write Checks, Pay Bills and Pay Sales Tax by at Edit > Preferences > Checking.
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.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth is the president of The QB Specialists, an Intuit Premier Reseller that offers huge savings and expert advice on QuickBooks POS and QuickBooks Enterprise. She is an Advanced Certified QuickBooks ProAdvisor and a member of Intuit’s Trainer/Writer Network. She is also certified in QuickBooks POS and QuickBooks Enterprise and has provided expert QuickBooks help to thousands of businesses all over the world since 1996.
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