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Which method is best for you?

Think about how your bank statement shows deposits. If the statement shows a lump sum for each deposit, you should group this refund for later deposit. If your statements show each individual check you deposited, you should have QuickBooks deposit the refund directly in a bank account. It's easier to reconcile your QuickBooks accounts with your bank statements when the accounts show deposits the same way that your statements do.

Group with other undeposited funds: If you choose this method, QuickBooks "holds" your refund in a special account named Undeposited Funds. To move the refund to your bank account, you must use the Make Deposits window to group the refund with other payments you've received into one deposit. This method works best when you hold the money you've collected for a period of time before you deposit it, or when you receive several payments that you deposit together in a lump sum.

Deposit To: If you choose this method, QuickBooks deposits the refund in the bank account of your choice at the time you record it. The refund does not go into the Undeposited Funds account, and you do not have to use the Make Deposits window to deposit it.

KB ID# H_PAY_GRP_OR_DEP
12/7/2016 4:33:50 AM
PPRDQSSWS400 9138 Pro 2017 f16b51