QB Issue Resolution:
“My company started a new data file for our new fiscal year.”
Why did you need to do this? That is unfortunate, to lose all your existing data.
“I was told to do a journal entry using a Dr. Undeposited Funds (individual amounts) Cr. Retained Earnings.”
Never use JE for UF. That is a great way to Corrupt that account.
This is a Self-reconciling account.
These amounts will be “in the bank” as of a specific date. Make THAT entry, not an UF entry.
Resolution for Issue 'How to transfer undeposited funds to new data file' available: Yes (Solved).
Source: Intuit Community forum.
How to transfer undeposited funds to new data file: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for AMOUNTS
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