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Handle bank deposits in QuickBooks Desktop after a Financial Exchange

After a financial exchange, you may need to transfer funds you wish to deposit from one account to another.

Detailed instructions

You can use either of 2 methods to handle bank deposits in QuickBooks Desktop.

Method 1:

By default, cash from Point of Sale is placed in the Cash In Drawer account in QuickBooks Desktop, while checks and credit/debit transaction are placed in the Undeposited Funds account.

To perform a deposit after you have completed the Financial Exchange process with QuickBooks Desktop(using the default mappings), you will need to transfer the funds you wish to deposit from the Cash in Drawer account in QuickBooks to the Undeposited Funds account.

To make a bank deposit in QuickBooks Desktop:

  1. From your QuickBooks financial software, choose Banking > Transfer Funds.
  2. Select the accounts to transfer from and to.

    Note: Normally this would be a transfer from the Cash In Drawer account to the Undeposited Funds account. If you have set up custom account mappings between Point of Sale and QuickBooks financial software, you will need to specify the custom accounts that you use. This window displays the current balances in each account.
  3. Enter the Transfer Amount (usually the entire balance in the Cash in Drawer account) and save the transfer.
  4. Choose Banking > Make Deposits.
  5. On the Payments to Deposit window, select the items in the list you wish to deposit. If depositing the entire balance from the Undeposited Funds account, click Select All at the bottom of the window.
  6. Click OK.
  7. On the Make Deposits window, select the bank account to which the funds are being deposited and save.

Method 2:

  1. In QuickBooks financial software, choose Banking > Make Deposits.
  2. Select the items to deposit and then click OK. The cash that was transferred from QuickBooks Point of Sale for Desktop does not appear on this list.
  3. Add a new line to the deposit list, selecting Cash in Drawer as the From Account and entering the amount of cash to be deposited.
  4. Click Save & Close.
KB ID# HOW12732
12/10/2016 2:47:53 AM
PPRDQSSWS406 9138 Pro 2017 9637ce