QuickBooks 2011: The Missing Manual

Making Deposits

Whether customers mail you checks or hand over wads of cash, taking those deposits to the bank isn’t enough—you also have to record those deposits in QuickBooks. In the Receive Payments window, if you designate a bank account as the Deposit To account (Receiving Payments for Invoiced Income), there’s nothing more to do after you save the payment—QuickBooks records the payment as a deposit to that account. However, if you initially store payments in the Undeposited Funds account, you have to work your way through two dialog boxes to first record payments you receive and then to record the deposits you make in your bank account. This two-step process is described in this section. (The box on Putting Payment Deposit Types to Work explains how to record deposits made with different payment types.)

Choosing Payments to Deposit

If you store payments in the Undeposited Funds account, you end up with a collection of payments ready for deposit that coincide with the paper checks you have to take to the bank. When you have payments queued up for deposit and choose Banking→Make Deposits (or, in the Home page’s Banking panel, click Record Deposits), QuickBooks opens the “Payments to Deposit” dialog box. There, you can choose the payments you want to deposit in several ways, as shown in Figure 13-17.

Note

If you have other checks that you want to deposit, such as an insurance claim check or a vendor’s refund, you’ll have a chance to add those to your deposit in the Make Deposits ...