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Make bank deposits after financial exchanges

With the default exchange configuration, sales payments received in QuickBooks Point of Sale are placed in the following QuickBooks accounts:

Payment typeQuickBooks account
Cash Cash in Drawer
Check, Credit Card, Debit Card Undeposited Funds

To deposit payments to a bank account in QuickBooks after you finish a financial exchange, you need to transfer the funds from the Cash In Drawer account to the Undeposited Funds account.

To do this task

  1. Go to the QuickBooks Banking menu and click Transfer Funds.

  2. Click the Transfer Funds From drop-down arrow and then click the account to transfer from.

  3. Click the Transfer Funds To drop-down arrow and then click the account to transfer the funds to.

    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, you may need to specify the other accounts that you use.

  4. In the Transfer Amount field, enter the amount of money you want to transfer.

  5. Save the transfer.

  6. Go to the Banking menu and click Make Deposit.

  7. Click the items to deposit and then click OK.

Alternate Method

  1. Go to the Banking menu and click Make Deposit.

  2. Click the items to deposit and then click OK. The cash that was transferred from POS does not appear on the list.

  3. Add a new line to the deposit list where the From Account is Cash in Drawer and the amount is the amount of cash in the deposit.

  4. Click Save & Close or Save & New.

Changing the account to which cash from Point of Sale flows

The Cash in Drawer account is the preferred method to track cash flow in QuickBooks. Point of Sale sends both cash payments and cash change to a payment item in QuickBooks, which by default is mapped to the Cash in Drawer account.

You can change your Point of Sale account mapping preferences to have cash sent to the Undeposited Funds account with other payments. However, if you choose to do this you should be aware of potential shortcomings of this method:

  • If you want to deposit a set amount, it is difficult, if possible at all, to select a combination of payments and change to equal that amount.
  • If you ever deposit an amount less than the cash total, there will be a left over amount in Undeposited Funds that will carry forward forever.

If you use the Undeposited Funds account for tracking cash, we strongly recommend that you always deposit all cash transactions and never try to deposit less than the total or a specific amount.

See also

KB ID# H_V_QB_POS_HANDLING_BANK_DEPOSITS
9/29/2016 9:58:08 AM
PPRDQSSWS400 9138 Pro 2017 e81914