QB Issue Resolution:

Thanks for getting in touch with us today. I can share some insights about the Undeposited Funds account in QuickBooks Online.

 

The Undeposited Funds account is a default holding account for company payments before depositing them to your bank account. The option to create U/F sub-accounts is currently unavailable.

 

This is, however, a great idea to add in QuickBooks so I’d recommend sending your product preference to our engineers. Your suggestion helps them understand where we can improve and what features should be added so we can better serve you.

 

You can follow the steps below for them to account your request:

  1. Go to the Gear icon.
  2. Choose Feedback from the drop-down.
  3. Enter your Comments, Suggestions or Feedbacks.
  4. Choose Next.
  5. Select a category.
  6. Click Send message.

That should do it, @AngelVail. I’ll do the same thing on my end to reinforce your request. For now, stay tuned to our latest news and updates by visiting our QuickBooks Blog.

 

Resolution for Issue 'Is it possible to create more than one Undeposited Funds account in Quickbooks Online? Perhaps subaccounts so that we can separate payments from different sources, but have them still appear in the Bank Deposit screen? We have an Undeposited Funds account for checks. We want to create a separate one for credit card transactions that we know have occurred, but for which we have not received the deposit into our bank account. We would like them to be separate so that we are clear which are checks we need to deposit, versus payments we are expecting from the credit card company. They are NOT a pledge, since the customer did actually pay them. Also in some cases, it can be a month later before we receive the deposit from the credit card company (depending on which source was used), which leads to a lot of confusion with what actually needs to be deposited into the bank account. We had set up a clearing account, but since it is not “Undeposited Funds”, anything we put there is not showing up in the Bank Deposit screen. Ideas/suggestions?' available: Yes (Solved).
Source: Intuit Community forum.

Is it possible to create more than one Undeposited Funds account in Quickbooks Online? Perhaps subaccounts so that we can separate payments from different sources, but have them still appear in the Bank Deposit screen? We have an Undeposited Funds account for checks. We want to create a separate one for credit card transactions that we know have occurred, but for which we have not received the deposit into our bank account. We would like them to be separate so that we are clear which are checks we need to deposit, versus payments we are expecting from the credit card company. They are NOT a pledge, since the customer did actually pay them. Also in some cases, it can be a month later before we receive the deposit from the credit card company (depending on which source was used), which leads to a lot of confusion with what actually needs to be deposited into the bank account. We had set up a clearing account, but since it is not “Undeposited Funds”, anything we put there is not showing up in the Bank Deposit screen. Ideas/suggestions?: 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.

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