Group multiple deposits in Undeposited Funds

Group multiple deposits to make it easier to reconcile your bank account if:

• Your bank statement shows the total amount of a deposit and not each individual check within the deposit
• You collect cash from your customers to deposit
• When you go to the bank, you deposit more than one or two checks or customer payments

Think of the Undeposited Funds account as an envelope where you keep checks until you take them to the bank.

Group funds

When you record each payment, click the Deposit to drop-down arrow and select Undeposited Funds.

Deposit funds and reconcile

Deposit the funds at your bank. Then create the deposit in QuickBooks.

When your bank statement comes, the amount of the deposit matches the deposit in your QuickBooks bank register. This makes it much easier to reconcile.

See also

How to reconcile a bank, credit card, or petty cash account