Incorrect Undeposited Funds Balance

Discussion in 'Quickbooks' started by Bill Bickner, Oct 31, 2004.

  1. Bill Bickner

    Bill Bickner Guest

    Have entered receipts (QB 2002) using "Sales Receipts" and "Make Deposits".
    The bank account balance is correct, but the Balance Sheet shows Undeposited
    Funds. I have tracked this down to specific individual receipts that were
    deposited with other items that posted correctly. When the deposits and all
    Sales Receipts that were included in the deposits are deleted, the
    undeposited funds balance drops to zero, but when they are reentered and
    deposited, the same items again show up as undeposited funds. Any advice
    would be appreciated.

    Bill Bickner
     
    Bill Bickner, Oct 31, 2004
    #1
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  2. Bill Bickner

    Bob Williams Guest

    On Sun, 31 Oct 2004 17:33:52 GMT, "Bill Bickner" <>
    wrote:

    >Have entered receipts (QB 2002) using "Sales Receipts" and "Make Deposits".
    >The bank account balance is correct, but the Balance Sheet shows Undeposited
    >Funds. I have tracked this down to specific individual receipts that were
    >deposited with other items that posted correctly. When the deposits and all
    >Sales Receipts that were included in the deposits are deleted, the
    >undeposited funds balance drops to zero, but when they are reentered and
    >deposited, the same items again show up as undeposited funds. Any advice
    >would be appreciated.
    >
    >Bill Bickner
    >

    What are the dates you are using for the new transactions and for the
    balance sheet?

    If the dates of the deposits are after the balance sheet date, then
    the balance sheet will include undeposited funds. It does not know
    that you have subsequently banked them.

    Bob Williams
     
    Bob Williams, Oct 31, 2004
    #2
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  3. "Bill Bickner" <> wrote in message news:<4m9hd.3926$>...
    Have entered receipts (QB 2002) using "Sales Receipts" and "Make
    Deposits".
    The bank account balance is correct, but the Balance Sheet shows
    Undeposited
    Funds. I have tracked this down to specific individual receipts that
    were
    deposited with other items that posted correctly. When the deposits
    and all
    Sales Receipts that were included in the deposits are deleted, the
    undeposited funds balance drops to zero, but when they are reentered
    and
    deposited, the same items again show up as undeposited funds. Any
    advice
    would be appreciated.

    Bill Bickner


    Check all your Sales Receipt, you must have selected Group with other
    Undeposited Fund. It is on the bottom left of the Sales Receipt
    window.


    Mike Block - QuickBooks Tax Cut C.P.A.
    Intuit paid me to make QuickBooks better!
    http://www.blocktax.com/
    http://www.quickbooks-add-ons.com/
     
    Mike Block - QuickBooks Tax Cut C.P.A., Nov 1, 2004
    #3
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