Bank Deposit

Where is Bank Deposit in the new QuickBooks Online?
From the home page screen

  • Select Create “+” sign (upper-middle)
  • Select “Bank Deposit” under Other heading
Bank Deposit
Bank Deposit

Deposit screen will open. See screenshot photo for reference.

If you have selected “Deposit to: Undeposited Funds” from “Receive Payment” form, you will see existing payments listed here. In order to transfer from undeposited funds accounts to bank account, select payments to match bank deposit here. Also, add new deposit (or negative for fees) to match bank deposit if needed.

Multiple Checks Deposit
Multiple Checks Deposit

Deposit form will open blank if no undeposited funds are available. Enter bank deposit as needed.

Deposit Form
Deposit Form

How do I make a payment be part of a larger (multiple checks, one deposit slip) deposit in new QuickBooks Online?

Multiple Checks Deposit
Multiple Checks Deposit

When you receive a payment for invoice or sales receipt (Plus “+” sign > receive payment under Customers header), you have the option to deposit to your checking account (or other accounts). So instead of depositing directly into your checking, deposit into Undeposited Funds. Once you do that head over to deposits (Plus “+” sign > Bank Deposit under “Other” heading), when the page displays you should see all your payments there with a checkbox to the left of each transaction. Check off all the payments that make the larger deposit of multiple checks and deposit that into your checking account.

The procedure is still exactly the same if you have received payment by credit cards. Just select correct payment methods.

What if, bank deducted fees. So deposit is less. Go to “Add New Deposit” section and show negative amount for fee.
For example, if your bank fee is $30.00 deducted from deposit total

  • Account = Bank Service Fee
  • Amount = -30.00 (notice negative sign thirty dollars)

Now, your total deposit amount should match bank deposit total in the bank account.

Bank Deposit Form
Bank Deposit Form

How to print my bank deposit slip if payment method type is the credit card? I am receiving an error message that my payment type cannot be credit card.

In order to print a deposit slip with a payment type credit card, we need to check your payment list settings and make a small change.

From the Home page screen
Go to the company Gear and select “All List “then select “Payment Methods.”
Select the payment method that is part of your deposit slip and click edit.
Uncheck the credit card box and save.
Return to your Bank Deposit screen and attempt to print again. Once its printed return to the payment method list and reselect the credit card option and save.

How to print my bank deposit slip if payment method type is the credit card? I am receiving an error message that my payment type cannot be the credit card.

Deposit Slip
Deposit Slip
Deposit Slip Error Message
Deposit Slip Error Message

In order to print a deposit slip with a payment type credit card, we need to check your payment list settings and make a small change.

From the Home page screen

  • Go to the company Gear and select “All List “then select “Payment Methods.”
  • Select the payment method that is part of your deposit slip and click edit.
  • Uncheck the credit card box and save.
  • Return to your Bank Deposit screen and attempt to print again. Once its printed return to the payment method list and re select the credit card option and save.
Uncheck Debit Card Payment Method
Uncheck Debit Card Payment Method
Uncheck American Express Card Payment Method
Uncheck American Express Card Payment Method

QuickBooks Online: How do I group bank deposit with Undeposited Funds in new QuickBooks Online?

On the Bank Deposit screen, what is the difference between “Select Existing Payments” field and “Add New Deposits” field?

From the home page screen, when selecting Create+Sign > Other > Bank Deposit, it will take you to the “Deposit” screen.

“Select Existing Payments” field will show up for received payments on invoices or sales receipts that weren’t deposited to a specific bank account but rather selected the Deposit to “Undeposited Funds” account field. From here, you will group the payments to match the bank deposit amount.

“Add New Deposits” field is for directly adding new bank deposit transactions in QuickBooks. It is treated purely as a banking function in QuickBooks. Since Sales Forms were not used customer information would not be available in the Customer Center including various built-in sales reports.

Your One-Stop QuickBooks Online Learn & Share from newqbo.net