How to use Undeposited Funds

[@nancylawson2662]

I picked purple-blue. thank you Candus for this very fun tip!!

[@mariallamas7148]

Hi Candus I would like to say thank you for the informational videos. and I have a question that I hope that you can answer for me I am new to QuickBooks online and use your books plus online I am going through bank statements manually which is the expenses and deposit I'm also entering invoices but I think I should've done sales receipt for cash coming in and also pay independent contractors from the cash received from customers. I have been saving it in undeposited funds but how do I deposit into the checking account without making it a double deposit should I not make the deposit from the bank statements and just transfer funds from undeposited funds the amount of the actual doposits

[@BusinessCoachP]

Hi, I am from Bahawalpur, Pakistan and have been improving my QBO skills through watching your videos and following your tutorials. I really love the way you communicate and bring energy and vibes by offering solutions. Its really a fantastic effort to resolve problems of millions of people. I really love and appreciate your efforts.

[@CandusKampfer]

Glad to hear that you are enjoying Candus' tutorial videos. Have an amazing day! Elaine-Team Candus

[@sherenecantave2855]

Help...I have money sitting in my undeposited funds but the invoice for that money already shows that it is paid. If I deposit the money from undeposited funds into my bank account, it will show more money than I actually have. How do I move the money from undeposited funds without duplicating the amount?

[@user-cy9gr6dy4s]

I use Undeposited Funds and I reconcile my checking account each month and I "Make Deposits" right before I reconcile. However, when I pull up my balance sheet, it shows I have $86,000 in Undeposited Funds. These are from the whole year, funds from each month. Can you help me get these to zero? I feel like I'm doing everything correctly. Apparently not...LOL

[@le04ech]

Started at a new company, you videos have been so helpful as I've been thrown into bookkeeping! Yeesh. They have literally millions from 2019 undep funds but everything has been deposited. What do I do????? Please help and thanks!

[@CandusKampfer]

Hi Alice, Thanks for your question, I've added it to our list. Candus uses the list to create future tips and tricks. Don’t forget to join the weekly tips and tricks to be notified when questions are answered. canduskampfer.com/tips Have an amazing day! Elaine - Team Candus P.S. If you would like to follow her on Facebook click here: facebook.com/CandusKampfer/

[@jesicaguevara8673]

Hi. I was wondering if I could get some help please. I received a payment for an invoice, however the payment was suppose to be in usd and I received it in cnd. I need to deposit into my PayPal cnd account. How do I enter this? How do I add I guess the exchange gain/loss? Can you please help me? Thank you in advance.

[@CandusKampfer]

Hi Jesica, Thank you for watching our videos 😊 I will add your question to the list Candus uses to create new QuickBooks tips each month. If you haven't already joined our weekly QB Tips & Tricks, click here to join and we'll send you our tips straight to your inbox: canduskampfer.com/weeklytips Have a great day! Kindra ~ Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer

[@SuperDarndt]

HELP>>>>>I have entered in a series of sales receipts, that are part of one larger deposit. All stored in my bank bag of "undeposited funds". But as I look at the bank register before posting the deposit...the register shows each sales receipt as a "payment" creating a negative flow to the checking account. thinking maybe I just did not see this before, I make the deposit...using the sales receipts listed from above, all is good. post the deposit. Nope deductions are still there. Then I think it might go away as I reconcile. Nope, I "check off" the deposits, and actually check or payments made, and there sit all of the sales receipts as if they are checks to be reconciled. I feel I have being doing the same steps for a couple of years. the only difference is I had to create a new bank account. Have I missed some thing in set up?

[@CandusKampfer]

Darla, sounds like your items aren’t setup to sales type accounts. I would recommend checking that.

[@alexahndrogallardo3713]

Hi I dont make deposit with quickbooks but I did deposit a lot of checks and cash in to one deposit. How can I create a rule to do it right, and set up correctly

[@CandusKampfer]

Hi Alexahndro, I'll make sure your question is added to Candus' list of future Tips & Tricks ideas. If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips Have a great day 🙂 Elaine Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer

[@tmorales1409]

Help....Im using Quickbooks for rental property income. The tenant sends me multiple checks that doesn't cove the total invoice amount. How do you apply multiple payment and be able to view each check payment amount with a remaining balance on the invoice?..... is there a setting or preferences that I need? Second, what is the bank registry for if your reconciling/ matching the bank statement with the cash account? Thanks in advance!!

[@alikareem3829]

Knowing how to make a cash bank account for transaction I make in cash is something I'm unable to anywhere... Wish someone can help

[@dorislecusay1624]

Thanks so much ❤

[@zoilamarcia5793]

hello Candus, i do bookkeeping for my church. since the prior bookkeeper started using undeposited funds (sales receipts) for the offerings received so i continue using same process. however, as i go to record the deposits i see i still have old-duplicated sales receipts in there listed. i already verified that they are duplicated, i guess i created them early when i was learning the process. anyway, i need to clear out those duplicated transactions. how do i do that? hope i didn't confuse you. thank you.

[@gabyperez1762]

Thank you so much....👍 it was really helpful and clear.

[@CandusKampfer]

Hi Gaby, Glad it helped you! Have an amazing day. McKenzie ~ Team Candus P.S. We’d love to connect with you find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer

[@mariallamas7148]

Thank you so much Candus, I really appreciate all your help.

[@beautifullady7632]

I love your lesson.

[@CandusKampfer]

Awesome! Glad it worked for you! Elaine -Team Candus

[@EDaguanno]

How to set up a leased vehicle in Quickbooks desktop?

[@CandusKampfer]

Hi Elaine Daguanno, Thank you for your question, we've already added your question to our list. Candus uses the list to create new QuickBooks tips each month. Please join the weekly tips and tricks to be notified when your question is answered. canduskampfer.com/tips Have an amazing day! Ednalyn ~ Team Candus P.S.If you would like more QB tips find Candus at ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer/

[@jenifercedillo8876]

Great explanation of UNDEPOSITED FUNDS!

[@CandusKampfer]

Yay! Glad it helped you Jenifer! Elaine Team Candus

[@JenniferFortunato]

Thank you, this has help me out a lot. I am still having an issue with the deposit in my register showing the deposit as undeposited funds instead of sales. It does not show them on my p and l as income. Any advice?

[@CandusKampfer]

Yay! Glad the video helped you 🙂 I added your question to our list. Candus uses questions that are submitted to create new QuickBooks tips each month. Please join the weekly tips and tricks to be notified when your question is answered. *canduskampfer.com/tips* Have an amazing day! Elaine -Team Candus P.S. If you would like to follow her, click the links below ↓ *Facebook:* facebook.com/CandusKampfer/ *Instagram:* instagram.com/candus.kampfer

[@jvc8947]

When I try to do the it will not left me choose undeposited funds (I get an error telling me it an internal account and to pick a different one) we have more than 2 years of these funds and I’m trying to clean things up after my husband’s secretary left the company.

[@CandusKampfer]

Hi J EV, Thanks for your question, I've added it to our list. Once a month, Candus picks the top 10 questions and answers them Live on her FB page. If you haven't subscribed to Candus's Tips & Tricks yet, here is the link to join: canduskampfer.com/tips we'll send a reminder for her next Live top 10 answers. If you would like to follow her on Facebook click here: facebook.com/CandusKampfer/ Thank you for being part of Candus' community! Elaine - Team Candus P.S. If you need help with QuickBooks, join her Getting Started with QuickBooks workshop, here is the link to save your seat: canduskampfer.com/getting-started/

[@temwawright2670]

I'm using Quickbooks online. How do I find the option to unselect the "use undeposited funds as a default deposit account" feature?

[@CandusKampfer]

Hi Temwa, Thank you for reaching out to us. I just added your question to our list. Candus uses the questions that are submitted to create new QuickBooks tips each month. Please join the weekly tips and tricks to be notified when your question is answered. canduskampfer.com/tips. If you would like to follow her on Facebook click here: facebook.com/CandusKampfer/ Have an amazing day! Elaine Team Candus

[@noemiaguilar-horta3427]

I have a client with really old undeposited transactions that where being sent there on default, and have been able to reconcile their accounts fine (since 2018 its now 2020) Is there a way to clear that up and not show on the balance sheet without messing with the bank balance? I will make sure its used properly from now on.

[@CandusKampfer]

Hi Noemi, I added your question to our list. Candus uses questions that are submitted to create new QuickBooks tips each month. Please join the weekly tips and tricks to be notified when your question is answered. *canduskampfer.com/tips* Have an amazing day! Elaine -Team Candus P.S. If you need help with QuickBooks, you may join her QuickBooks workshop. Here is the link to save your seat: *CandusKampfer.com/workshop*

[@kaleidoscopek9148]

i have a customer overpaid for an invoice already paid. How to show this in customer statement to reflect the current amount which is negative. please help,

[@angelamoore5196]

I have a payment that was noted twice. How do I get rid of that?

[@CandusKampfer]

Thank you for watching the video! Due to the large volume of questions and emails we receive daily, Candus isn’t able to respond to all of them any longer. If you are just starting out with QuickBooks or feeling overwhelmed and need help, register to join her next workshop here: canduskampfer.com/getting-started/ Have an amazing day! Elaine Team Candus

[@CandusKampfer]

Angela, Sounds like you need to check the customer center for duplicate payments. Candus

[@angelamoore5196]

@@CandusKampfer excuse my lack of knowledge but what do I do in customer center?

[@conniemoore4051]

How do I delete from the undeposited funds account

[@CandusKampfer]

Hi Connie, I added your question to our list. Candus uses questions that are submitted to create new QuickBooks tips each month. Please join the weekly tips and tricks to be notified when your question is answered. *canduskampfer.com/tips* Have an amazing day 😊 Elaine - Team Candus P.S. If you would like to follow her, click the links below ↓ *Facebook:* facebook.com/CandusKampfer/ *Instagram:* instagram.com/candus.kampfer

[@ronelle5496]

this didn't work in quickbooks online :/

[@CandusKampfer]

Hi Ronelle, I'll make sure your question is added to Candus' list of future Tips & Tricks ideas. If you'd like to make sure you get our weekly tips, you can join here: canduskampfer.com/weeklytips Have an amazing day🙂 Elaine Team Candus P.S. We’d love to connect with you! Find us on ↓ Instagram: instagram.com/candus.kampfer Facebook: facebook.com/CandusKampfer TikTok: www.tiktok.com/@canduskampfer

[@racsozerep8671]

Candus so I just got my qb software and i want to enter all of my previous moth accounting , how do you recommend me do it

[@CandusKampfer]

Rasco, Thank you for reaching out to us! Due to the large volume of comments and emails, we receive daily, Candus isn’t able to respond to all of them any longer. We will add your question to our future tip requests. Please join the weekly tips and tricks to be notified when your question is answered. canduskampfer.com/tips Have an amazing day! Elaine Team Candus

[@mohammadaltamimi341]

How to use periodic system on quickbooks with tracking for quantity☺ thank you in advance.

[@CandusKampfer]

Mohammad Altamimi, Thank you for reaching out to us! Due to the large volume of comments and emails, we receive daily, Candus isn’t able to respond to all of them any longer. We will add your question to our future tip requests. Please join the weekly tips and tricks to be notified when your question is answered. canduskampfer.com/tips Have an amazing day! Elaine Team Candus

[@mariallamas7148]

Thank you Candus. So I should only record the expenses from the bank statements. So if there is more income that is not being deposited should I leave that in the undeposited funds or create a different account to deposit it?

[@mariallamas7148]

this is an all cash service business, i receive money from a customer and then pay the independent contractor, and not all the money is deposited in the bank, just what is needed to pay the business expenses. So when I enter the money received i put in undeposited funds, and the money that i pay to the Independent contractors i enter as an expense but with undeposited funds account.

[@mariallamas7148]

Actually i pay them as independent contractors and have them set up as such

[@irasemagramajo3568]

I love your videos very helpful😀

[@margieniemiec1276]

Candus Kampfer how I can delete available costumers available credit.