Do this - go to make deposit, enter the amount and for the account put it as either "Owner Contributions" or as "Loan from Owner" - depending on if they want to show it as equity or as a loan to the business
Okay. 1. I received a check from my client 2. Report the check in quickbooks, now it is in "Not deposited" 3. I have made a mobile deposit to my bank account. What happens tomorrow when a new income appears in my quickbooks account? And what will happen to the money that has not yet been deposited?
If I deposit cash onto the business account to cover an expense that will come through at a later date; should it be recorded as a deposit? Or can I just categorize straight from the bank feed? If the deposit is to be recorded, does this mean we are to match the transaction on the bank feed to the deposit? If we are to categorize straight from the bank feed, what category should be used?
I deposited cash in to my bank account today. Came home to put it in Quickbooks online, and I cannot figure it out. I did it as an owner contribution, but it doesn't update my balance. I can't figure out why.
I have a quick question. I followed this video. My question is: I have deposited the final payment for an invoice. All of my invoices normally say deposited under them once they are paid in full and in the bank. I have one that just says paid and I can't figure out what I am missing to get it to say Deposited. Any help would be great!
MY BANK ACCT IS linked to our INVOICE system - Printavo. When I take a payment in Printavo, it automatically hits QB online. DO I go back into QB online and go through the RECEIVE PAYMENT proceducre ???
If someone is paying you back but you didn't initially record the "loan". How would you go about recording this deposit so it doesn't show up as a sale?
If I do a mobile deposit every day, do I still have to put the checks into Undeposited Funds first? Seems like a pointless step when I immediately deposit the money in the bank, but I was never taught about Bank Deposits in QBO
@@QbuniversityOrg thank you so much! My boss quit on short notice and she never knew about Bank Deposits, so I never knew about them. So we have over $80k in undeposited funds. I knew it didn't look right, so I started watching videos on RUclips about it. But no one is explaining what to do if a company has a mobile scanner. I appreciate your quick response and look forward to learning more from you and others!
My boss will sometimes deposit more than one check at a time via his mobile bank app. When it shows up in banking it will show just the total of all the deposits made at that time. If I post it, it will go to "Sales" like it's supposed to but even if I try to "split" it to go to each of the invoices pertaining to that deposit, I still have to go in and "receive payment". When I do that the invoices show up individually on my p&l but it will also show the total deposit amount that was initially deposited, thus everything showing up twice! How do I prevent and correct this??
What if i deposit a check into the atm and then receive payment? Ive done this before and it worked . However i just did this recently and it put the payment double into qb.Did i double invoice it?Any ideas on how to reverse that? Thanks - Ian -
So, you deposited it in an ATM then received it as paid in Quickbooks? That would be correct. Not sure why you are showing a double payment. It could be that you recorded it as received twice.
Yes, I double recorded it. The check hadn’t fully deposited but I put the money in the checking account instead of undeposited funds. Lol thank you for the video that’s what made me realize the error I made
Hi, if we are done with the receive and bank deposit process, then the next step will be matching the whole deposited amount to the Bank feeds, is it right? Thank you so much in advance! 😊
@@QbuniversityOrg Will the deposit show up in the 'For Review' tab of my banking? I can't find where to "match" it with the bank account feeds and now it's duplicated.
Hey Mark, I accept 50% deposits before starting the work, how do I treat them since they are not yet realized revenue but infact an obligation for me to perform the work.
I cannot find any videos instructing how to make owner generated deposits Not From Sales, From the owner to their own business
Do this - go to make deposit, enter the amount and for the account put it as either "Owner Contributions" or as "Loan from Owner" - depending on if they want to show it as equity or as a loan to the business
Okay.
1. I received a check from my client
2. Report the check in quickbooks, now it is in "Not deposited"
3. I have made a mobile deposit to my bank account.
What happens tomorrow when a new income appears in my quickbooks account? And what will happen to the money that has not yet been deposited?
When you say “Report the check in QuickBooks” how did you record it?
What about payments recieved on sold equipment when there is no invoice?
If I deposit cash onto the business account to cover an expense that will come through at a later date; should it be recorded as a deposit? Or can I just categorize straight from the bank feed? If the deposit is to be recorded, does this mean we are to match the transaction on the bank feed to the deposit? If we are to categorize straight from the bank feed, what category should be used?
When I try to add a deposit to QBO it defaults to 'add to a deposit' and I don't want this. How to get back to the make deposit section?
How do I deposit funds without using Undeposited Funds? We are a restaurant and do very little billing.
You can deposit directly to the check register instead of using undeposited funds
I deposited cash in to my bank account today. Came home to put it in Quickbooks online, and I cannot figure it out. I did it as an owner contribution, but it doesn't update my balance. I can't figure out why.
In this case just go into the check register and show it as a deposit and put it to the Owner COntribution equity account
I have a quick question. I followed this video. My question is: I have deposited the final payment for an invoice. All of my invoices normally say deposited under them once they are paid in full and in the bank. I have one that just says paid and I can't figure out what I am missing to get it to say Deposited. Any help would be great!
Do your payments go to Undeposited Funds or directly to the checking account in QB? Does it show as deposited in the check register?
MY BANK ACCT IS linked to our INVOICE system - Printavo. When I take a payment in Printavo, it automatically hits QB online. DO I go back into QB online and go through the RECEIVE PAYMENT proceducre ???
Depends on how it is linked but most likely not. You will have to trace a payment through to see what it is doing in QBO
If someone is paying you back but you didn't initially record the "loan". How would you go about recording this deposit so it doesn't show up as a sale?
You’d have to somehow show the initial money going out to be able to record it coming back in. How was it recorded when the money was loaned out?
If I do a mobile deposit every day, do I still have to put the checks into Undeposited Funds first? Seems like a pointless step when I immediately deposit the money in the bank, but I was never taught about Bank Deposits in QBO
Christine Wichter nope you don’t. If you are depositing frequently, just put them straight to the checking account
@@QbuniversityOrg thank you so much! My boss quit on short notice and she never knew about Bank Deposits, so I never knew about them. So we have over $80k in undeposited funds. I knew it didn't look right, so I started watching videos on RUclips about it. But no one is explaining what to do if a company has a mobile scanner. I appreciate your quick response and look forward to learning more from you and others!
Christine Wichter Sounds great, thanks!
Thank you for the video. How do I categorize the verification deposit quickbooks deposits when you first setup the account?
It’s so small so you can just put it to Miscellaneous Expense or something like that
@@QbuniversityOrg thank you!
@@michelleharley21 you’re welcome!
My boss will sometimes deposit more than one check at a time via his mobile bank app. When it shows up in banking it will show just the total of all the deposits made at that time. If I post it, it will go to "Sales" like it's supposed to but even if I try to "split" it to go to each of the invoices pertaining to that deposit, I still have to go in and "receive payment". When I do that the invoices show up individually on my p&l but it will also show the total deposit amount that was initially deposited, thus everything showing up twice! How do I prevent and correct this??
You’ll have to split that deposit into multiple Receive Payments against invoices to total the total amount of the deposit.
Sir how do you record a Post Dated Check? Example: a customer has 14 days term and she issued the cheque upon receipt of goods.Thank you in advance!
peazmo I would just show the payment with the actual check date on it
What if i deposit a check into the atm and then receive payment? Ive done this before and it worked . However i just did this recently and it put the payment double into qb.Did i double invoice it?Any ideas on how to reverse that? Thanks - Ian -
So, you deposited it in an ATM then received it as paid in Quickbooks? That would be correct. Not sure why you are showing a double payment. It could be that you recorded it as received twice.
Yes, I double recorded it. The check hadn’t fully deposited but I put the money in the checking account instead of undeposited funds. Lol thank you for the video that’s what made me realize the error I made
@@ianlogan9163 I would void the one you put directly in the bank account and keep the one that came from undeposited funds
I can't see the create...your face is there. How do I find it in dashboard
Hi, if we are done with the receive and bank deposit process, then the next step will be matching the whole deposited amount to the Bank feeds, is it right?
Thank you so much in advance! 😊
Yep that’s exactly right!
@@QbuniversityOrg Will the deposit show up in the 'For Review' tab of my banking? I can't find where to "match" it with the bank account feeds and now it's duplicated.
@@Yourfavblondish yes it should show in the for review tab. There should be an option instead of Add to Match
Thank you
Mozi Lakhani you’re welcome!
Hey Mark, I accept 50% deposits before starting the work, how do I treat them since they are not yet realized revenue but infact an obligation for me to perform the work.
I, too, require 50% deposits before starting the work. Did you get an answer to this?
how to import multiple deposit
like multiple deposits applied to multiple invoices?
How do I record if I sold my invoice to a factoring company