How to Create Deposits in QuickBooks Online
When you send sales receipt and/or receive payment transactions to Undeposited Funds, they sit in this account until you create a deposit transaction. To create a deposit transaction, from +New select Bank deposit.
When creating a deposit, be certain you select the correct bank account at the top of the Bank Deposit transaction screen. Then complete the deposit transaction:
- Populate the Date field with the date you make the deposit.
- Checkmark the Payments being included in the deposit from the list provided.
- Add any other deposit items on the Add New Deposits lines below the list of payments. Be careful when entering deposit items on the Add New Deposits line. Do not enter sales transactions here. You will diminish the quality of the reports that use Products/Services. In addition, transactions entered here won’t reflect in the Sales Tax Center.
- Confirm the total amount of the deposit equals the amount you took/plan to take to the bank, then Save the deposit.
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