Undeposited Funds Clean Up in QuickBooks

When payments are received from customers but are not properly matched to a Deposit, your QuickBooks accounting file will incur a balance in UnDeposited Funds that will need to be reconciled to zero on a regular basis. If not, then at year-end, it may overstate your balance sheet assets and potentially incorrectly affect income as well. Some Undeposited Funds balances are correct, and others may not be. By having us do a clean-up on your Undeposited funds account, we will identify which payments need to be matched to deposits and which ones are still rightfully UnDeposited. This could be due to waiting for your merchant processor to release funds to your bank account or waiting to deposit checks that have been received into your bank account as well. We can help you clean up and reconcile this account so that it displays the correct figure on your balance sheet.