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M
MackinacWheels
June 8, 2025
Question

Undeposited funds not going to record deposits

  • June 8, 2025
  • 1 reply
  • 11 views

Recently my POS (lightspeed) hasn't been connecting to QB properly. It used to send the daily sales totals (cash, check, credit card) to the payments in Record Deposits. It has not been doing this. I have found that it been doing journal entries and it is showing in Undeposited Funds. But now how do I get this to transfer to Record Deposits? Or even if it doesn't show up in the payments under Record Deposits, how do I take it out of Undeposited Funds and get it to show as a deposit to my bank?

1 reply

J
Jovelyn_MQuickBooks Team
QuickBooks Team
June 8, 2025

The best course of action is to contact your POS to check for updates, as this can be the reason why it's not connecting properly to QuickBooks, Mackin.

 

On the other hand,  to ensure that your deposited funds are not automatically saved as 'Undeposited Funds', we need to make sure that 'Undeposited Funds' is not set as the default.

 

Here's how to change that setting:

 

  1. Navigate to the Edit menu.
  2. Select Payments.

  3. Click Company Preferences.
  4. Untick the Use Undeposited fund as a default deposit to the Account.

 

After that, you can manually record your deposited funds from the Undeposited fund.

 

For future reference, you can refer to this article on how to create rules to help QuickBooks match your Bank Feeds transactions: Create rules to categorize transactions in QuickBooks Desktop.

 

Keep us posted if you need further assistance.

M
MackinacWheelsAuthor
June 10, 2025

Thank you for the help. I will make that change. I have been working with the POS to get it connected to QB properly but it has just been a mess.

 

In the mean time, how do I get the deposits to show in my check register and not just in a journal entry? I can't reconcile at the end of the month the way it is right now. Also, the journal entry shows all cash, check and credit card in one journal entry. Obviously these do not get deposited all in the same deposit so I will need to have them split into separate deposits. 

JenoP
JenoPQuickBooks Team
QuickBooks Team
June 10, 2025

Any positive balance in the Undeposited Funds account would show up when recording a bank deposit, MackinacWheels.

 

If you can't see it, click the Window menu and choose Close All.

 

 

Once done, go back to the Make Deposits window to check if you can see the journal entries.

 

 

If you can't still see them, you can edit the journal entries. Then, change the account from Undeposited Funds and replace them with the bank account. Aside from that, you can specify on each lines that affected accounts or split the deposit. 

 

 

After that, the transactions will now show up in your bank register and can be reconciled as well.

 

Feel free to check out these additional articles in case you might need them when reconciling your bank account:

 

 

Please don't hesitate to visit us again if you have follow-up or new questions for us.

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