Do you know the purpose of QuickBooks Undeposited Funds or when to use it?

If you have multiple checks or payments at one time, you’ll love this.

I’m excited to show you how you can use it (and why) inside QuickBooks Desktop.

Steps to Using QuickBooks Undeposited Funds:

Undeposited Funds – Holds money before recording deposits. (Recommended)

Preference Setting

  • Go up to “Edit”
  • “Preferences”
  • “Payments”
  • “Company Preferences”
  • “Receive Payments”
    • Automatically apply payments
    • Automatically calculate payments
    • Use Undeposited Funds as a default deposit to an account
  • Click “OK”
  • Click “OK” again

Receive Payment

  • “Received From”
  • “Payment From”
  • “Date”
  • Choose “Payment Method”
  • “Check #”
  • Deposit To: “Undeposited Funds”
  • Checkmark Invoices
  • Click “Save & Close”

Record Deposit

  • “Payments to Deposit” screen will show
  • Select the payments
  • Click “OK”
  • “Deposit To”
  • “Date”
  • Check other details
  • Click “Save & Close”

 

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Have you been using QuickBooks for a while, but when you pull a report you just don’t understand what it’s saying?

Does the idea of going to see your tax professional sound a little stressful and maybe cause you to feel like you want to pull your hair out?

I would love for you to join me on my customizing QuickBooks workshop.

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And the #1 SECRET to feeling Confident at your next tax appointment.

I’m excited to see you on the workshop!

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Share with us in the comments below – do you use Undeposited Funds? We’d love to hear if you start using it after watching this video! 👇