Read this full article to know what is the process to combine multiple transactions into a single record. Doing so will allow QuickBooks to match your real-life bank deposits. This article will allow you to record and make bank deposits in QuickBooks Desktop. 

You may have deposited payments from multiple sources at one point of time. Each of your deposited amounts is recorded as a single record by your bank. The deposits you made won’t be matched when the same payments are deposited as individual records in QuickBooks.

In such situations, QuickBooks Desktop comes with a separate procedure that will allow you to combine everything to match your current bank deposits. You can add the transactions that you want to combine into your Undeposited Funds account. After this, you can record a deposit to combine each record. 

You need to follow the steps mentioned below for recording and making bank deposits in QuickBooks Desktop.

Step 1: Put Payments Into The Undeposited Fund Account

First of all, you need to put the transactions you will be combining into the undeposited funds account.

Step 2: Record a bank deposit in QuickBooks to combine payments

After your deposit slip is received, you are all set to record the deposit in QuickBooks Desktop.

  • From the Homepage of QuickBooks, you need to click on the Record Deposits/Make Deposits option.
  • Now, from the Payment to Deposit window, select all the payments you will be combining and click on OK.
  • You will be redirected to the Make Deposits window. From the Deposit to drop-down option, click on the account you wish to add to the deposit into.
  • Go through the deposit total. The account and payments are matching up with the deposit slip you received from your bank.
  • Provide the date when the amount was deposited to your bank.
  • Add a memo if required and once you are done, click on Save & Close.

Each bank deposit added is considered as a separate record. You need to make each deposit one at a time.

Important: The Bank Deposit window only shows the the transactions that are in your Undeposited Funds account. 

Deposit payments into two separate bank accounts

Add your deposit into multiple bank accounts by following the steps mentioned below:

  • From the Homepage of QuickBooks, you need to click on the Record Deposits/Make Deposits option.
  • Now, from the Payment to Deposit window, select all the payments you will be combining and click on OK.
  • You will be redirected to the Make Deposits window. From the Deposit to drop-down option, click on the account you wish to add to the deposit into.
  • Insert a line in the payment you will be adding to a second account.
  • Click on the From account drop-down option and then click on the second line. Now, provide the amount you will be entering to the second account as a negative value. Entire amounts can also be added or you can add a part of it.
  • Once you are done with the process, click on Save & Close.

Deposit payments into an account other than a Bank Account

Because you are copying a current bank deposit, you need to record deposits in QuickBooks, your bank or other FI. You can also move a deposit into a different account type.

  • From the Homepage of QuickBooks, you need to click on the Record Deposits/Make Deposits option.
  • Now, from the Payment to Deposit window, select all the payments you will be combining and click on OK.
  • You will be redirected to the Make Deposits window. From the Deposit to drop-down option, click on the account you wish to add to the deposit into.
  • Go to the Make Deposits screen and click on Cash back and go to drop-down. You need to select the account you will be moving the deposit to.
  • Provide the amount you want to add into the account. You can also move the entire record by entering the deposit total. If the entire deposit is not added, the remaining amount will get credited to the account you have selected under the Deposit to field.
  • Once you are done with the process, click on Save & Close.

Next steps: Manage your bank deposits

Review past bank deposits

Follow the steps mentioned below to checkout previous deposits and the transactions you have combined.

  • From the Reports menu, choose Report Center.
  • Click on Banking section
  • Go to the Deposit Detail report and then click on the Run icon.

The report contains all the bank deposits you have previously recorded. You can also choose individual deposits for additional details.

Delete a bank deposit

  • To start the process from scratch, you can remove a bank deposit:
  • Go to the Reports menu and then select Report Conter.
  • Click on the Banking section.
  • Open the Deposit Detail report and then click on Run.
  • Open the deposit you will be removing.
  • Now, go to the Make Deposits window and you should see all the payments added to the deposit. Go through each payment and ensure whether you need to start over or not.
  • Right-click anywhere in the window and click on Delete Deposit.
  • Click on OK to the confirmation message.
  • Each payment available on the deposit will be transferred to the Undeposited Funds account. This will help you in creating a new deposit.

This article probably covers each essential point that is required for you to combine multiple transactions into a single record. Now, the QuickBooks Desktop will correctly match your real-life bank deposits. However, if you have faced any issue during the process or you are looking for any kind of assistance, feel free to get in touch with our technical support department by dialing the toll-free QuickBooks Support Phone Number +1800-324-6955 and get instant support for QuickBooks.

Record And Make Bank Deposits In QuickBooks Desktop

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