How to Setup Payments to Go Directly to the Bank Account Instead of Undeposited Funds in QuickBooks
Published 04/28/2012 | 
Thanks for your help.
However, I don’t recommend doing this unless each one of your payments is a separate bank deposit. Undeposited funds is a handy little feature that allows you to group multiple payments into one deposit so the deposit in QuickBooks matches the deposit on your bank statement. It makes reconciling your bank account much easier.
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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I am having a problem with a reconciliation. It is a new job and I suspect that the item has not been put in properly. My invoices are showing on my reconcilation in the payment section. I didn’t initiate the chart of accounts but all i can think of is that the item is not put in properly. It is a service item. Can you please help me? My phone number is 302-383-8656. thank you very much.
Hi Cheryl,
I’m really sorry, but we charge $60/hr for telephone support for QuickBooks, $120/hr for QuickBooks POS.
I’m sure your problem has nothing to do with items though because items have nothing to do with deposits. Your problem is most likely that you aren’t using undeposited funds correctly. You should be “depositing” all of your invoice payments and sales receipts into your undeposited funds account. When they payments are actually deposited into the bank account, you should go to Banking > Make Deposits and select the payments that were actually deposited from the list of undeposited funds.
Unless you deposit each payment separately, it’s the only way to match up what’s deposited in QuickBooks to what’s shown as deposited on the bank statement.
Ruth
Hi there – do you know how to do this on QB2011 for Mac?
In QuickBooks for Mac, Preferences are in the QuickBooks menu.
Ruth