Learn the best ways to use the undeposited funds account to receive payments in QuickBooks Online (QBO)
No doubt, QuickBooks is the world’s best accounting and bookkeeping software made by Intuit. Talking about the undeposited funds account in QuickBooks online, it serves a special function, as it is a special temporary account that is used by the QuickBooks accounting software for holding the payments that are received from invoices before the user deposits them into the bank account. If you are one of the users who import payments data from external processing services, and do not process transactions via QuickBooks payments, then this workflow is essential for you.
In today’s article, we are going to discuss the use of the undeposited funds account, in order to receive payments in QuickBooks Online. Thus, if you are looking for the entire process to use the undeposited funds account to receive payments in QuickBooks online, then your search ends with our article.
Go through the article till the end, to learn the process. However, for expert assistance, you can make a call at our toll-free number i.e. 1-844-405-0907, and discuss your issue with our QuickBooks support team of experts and certified professionals.
As stated above, undeposited funds is an account in QuickBooks accounting software that holds funds from the payments until they are deposited in the bank account. As per the experts, the user can’t deposit the fund directly to undeposited funds. The reason behind this is that it is just a temporary account that means that the user can deposit the funds in a single transaction only after he/she takes the deposits to the respective bank account.
Making a lump sum payment is beneficial in a way that the transactions remain itemized in the account register, but all that user is supposed to do is to check the lump sum deposits when reconciling transactions with the statements of bank.
Reason behind using Undeposited Funds Account
Many QuickBooks users ask this question very often that why they should make use of the undeposited funds account. The undeposited funds account is an internal “other current asset account” crafted by QuickBooks. For instance, if the Undeposited funds account is a lockbox or safe, where the user keeps the payments till the time they are not deposited in the bank account. This account in actual serves as a default “deposit to” account and is designed in a way to work with the receive payments and bank deposit features, in order to complete the invoicing process. The user can make use of this account for single or group payments.
Steps to enter transactions with Undeposited Funds
If you want to enter the transactions with undeposited funds, you need to follow a step by step process. The steps involved are as follows:
The very first step is to click on the ‘Lists‘ menu, followed by selecting the ‘Items‘ option.
The next step in the process is to select the option of payment from the ‘Type drop-down list‘ and then further add any additional information for the transaction, if needed.
Lastly, the user is supposed to tap on ‘Account drop-down list‘ and also select the “UndepositedFunds“, followed by hitting “OK“.
How to Deposit Undeposited Funds in QuickBooks?
The user can implement the steps below for depositing Undeposited Funds Account to Receive Payments in QuickBooks Online–
To begin with, the user is required to hit ‘Banking‘ tab and then select the “MakeDeposits“ option.
The next step in the process is to select the payments from Undeposited Funds that the user wishes to deposit. In case the “Payment to Deposit” window does not open on its own, then in that case the user is required to select “Payments” on the “MakeDeposits” window.
Now, the user should hit ‘OK‘ button.
Moving ahead, click on the ‘Deposit To list‘and then opt for the bank account for the deposit purpose.
Once done with that, the user is required to type-in the date in the ‘Date field‘ and then if permitted enter any additional payments to deposit.
The next step to be performed by the user is to click on ‘Print‘ option so that the user could have a hard copy of deposit slip.
The last and final step is to hit ‘OK‘ so that transaction could be saved and after that take the slip to the bank and deposit the funds into the account.
The user can make the best use of the Un-deposited Funds account, in case the company accepts the transactions all the day by cheque or cash and later on deposit them to the bank in a single trip. Companies that accept only credit cards as payment option, they deposit one transaction at a time straightforward to the bank account, and other online payments basically do not use the Undeposited Funds account.
If you are not using undeposited funds account just because of the unawareness of the procedure to use it, then reading this article will help you to make the best out of it. However, if any of your queries remained unanswered regarding undeposited funds account, then do not hesitate in discussing it with our QuickBooks Online Support team.
Simply make a call at our toll-free number i.e. +1-844-405-0907, and our experts and certified QuickBooks professionals will be there to provide you proper support in a single call. Hope this article will be helpful for you. Thanks for your visit. Love to see you soon here again.
When a user is working on QuickBooks software, there comes a time when he wants to transfer the QuickBooks from old computer to new computer. There can be any reason behind this decision. A user can easily use the migrator tool to transfer QuickBooks software from his old to new computer with maximum three files, and if the user is using a US version of single-user QB desktop. When a user wants to do this, he should follow the steps below to reinstall or move the QB Desktop installation:
How to transfer QuickBooks from one computer to another using Migrator Tool?
Migrator tool is one of great features of the QuickBooks software. A user can complete the process of transfer in just few clicks due to this feature only.
How does migrator tool work to transfer QuickBooks from one computer to
Migrator Tool is also known as Move QuickBooks tool. This tool can be accessed only if you are an Admin user. You will need to create a complex password and need to remember it by writing it somewhere, however, it is required only once.
The migratory tool will allow you to copy max three company files in the USB flash drive along with the supporting documents. Pen drive will physically move the files and the migratory tool will do technical work in background. The tool will also download the right version of QuickBooks Desktop in the new computer and will aid in setting up all the files.
Note: Using migratory tool will not delete any file or reformat your system.
Requirements of migratory tool to transfer QuickBooks to new computer:
There should be internet connection to new computer.
Pen drive should have good amount of empty space. Free space around 150-200 MB is required usually.
Data which gets copied through migratory tool while moving QB to new
All the data required to run QuickBooks Desktop gets copied, however, the list is as below:
Version and other QB Desktop details
Recent company files- max 3 files with supporting documents
All other related files and custom templates and forms
QuickBooks accounting software offers numerous tools and features to the users for managing accounts and other business operations. This accounting software involves numerous codes and algorithms, and this makes it prone to errors can glitches. These can be encountered while managing their bank account in QuickBooks Online. The errors can occur due to technical issues or due to some faults at the banking end. It is not uncommon that the QuickBooks users encounter technical glitches, and look for technical assistance to get rid of such errors. One such banking error is QuickBooks Error 108. If you are also facing such error, then this article might be helpful to get rid of this error.
We have come up with this article, with an aim to troubleshoot this error and also find out the real causes behind the same. Thus, if you want to explore the troubleshooting steps, then stay tuned to the article until the end. However, you can contact to our QuickBooks online support team anytime to save your time and efforts.
Well, after exploring the symptoms and causes, it is now time to learn the quick fixes to the Error 108. Let us have a look at the methods one by one:
Solution 1- Disable the Pop-up blockers
The first step is to ‘login into the website‘ of the bank or financial institution.
Now, the user is required to go through all the notifications or messages. In case the user is unable to read the messages, then the pop-up blocker might be the reason. Thus, the user is required to disable it and then also check the messages.
The next step is to act on the messages or dismiss them.
Once done with the above steps, the user is required to ‘visit the QuickBooks Online‘.
Moving ahead, the user should visit the menu on the left side and then select the ‘Banking‘ option.
Now, the user is required to tap on ‘Update‘ in the Banking page.
Lastly, the user is required to check if Error 108 QuickBooks is appearing.
Checking the Firewall settings
To begin with, the user is required to login to the computer as an administrator.
The above-discussed are the five of the solutions that can be used to do away with the QuickBooks Error code 108. The QuickBooks user can prefer any of the methods and resolve the error. However, in case any problem arises, or if the user is unable to tackle the error even after following the above-enumerated methods, then he/she can consult with our QuickBooks error support technical experts. You can simply dial our toll-free number .i.e. +1-844-405-0907, and our QuickBooks Support team will be there to assist you in a single call.
Insight into QuickBooks Online and its Pros & Cons
We live in a tech-driven era, where every industry is exploring and incorporating technical advancements, and the accounting industry is not an exception. One of the recent technological advancement is QuickBooks. Though this technology is ruling for decades, it has gained popularity recently.
In other words, it can be said that businesses all over the world have understood the value of incorporating QuickBooks. No doubt, the progression of QuickBooks programs has been growing at an exceptional rate. This software has completely transformed the way entrepreneurs conducted their business operations earlier. QuickBooks has now become synonymous with better and simpler accounting.
From hundreds of users to million subscriptions, QuickBooks has marked its presence in this hi-tech world. Not only this, this software has witnessed some significant changes and advancements, one of which is QuickBooks Online. Regardless of the fact that whether you have a small business or your business is scaling up, it is very much important to understand which accounting software is best for you and your business. To make you familiar with the pros and cons of QuickBooks Online, we have come up with this comprehensive guide.
In this article, we will be dealing with notable features that separate QBO from top performers, such as ease of access, limited features, and many more.
QuickBooks Online usually differs from the standard PC version, where the users pay for the program once, and it is good to go for a few years. Also, with this, the users pay a monthly subscription. This is like a pay-as-you-go program. However, users can add additional features to the basic services, just like tax filing, payroll, and credit card acceptance.
QuickBooks Online offers three different programs to the users, and each program offers a different set of features. Let us have a look:
Talking about the Price of this pack, this pack is of $20 per month (but in this case they run promotions for introductory periods). This plan basically works well for freelancers and also for the ones running small businesses online or in-person. This pack includes a certain set of features such as:
Create and send estimates
Create, send, and track invoices
Track sales and connect with your favorite POS
20+ built-in reports
Import income transactions right from your payment processors, such as Square, PayPal, and your bank
Integration with your bank account and third-party apps.
This is the second pack offered by QuickBooks Online. The price of this pack is $40 per month (but they run promotions for introductory periods). This pack is suitable for small businesses that look for a few more capabilities, as it offers numerous features including the features offered the pack discussed above.
Create checks from any device and then save to print later
Pay and keep track of bills and also set up recurring payments
40+ built-in reports
Track employee time or billable hours with clients
Set up auto-syncing so that everyone is on the same page.
The third and the last pack is the Plus pack (but they often run promotions for introductory periods). This pack is favorable for businesses with contractors or freelancers working for businesses. The features in the plus plan include all of the above features and in addition to that, the features listed below:
65+ built-in reports
Inventory tracking, along with alerts when stock is low
QuickBooks Online is the choice of numerous entrepreneurs all across the globe, and the reason behind this is the perquisites of QuickBooks Online. We have jotted down the pros of QBO, let us have a look:
1. Shared Access
The very first plus point of QuickBooks
Online is that it allows users to work or access a single file at the same
time. QBO collaboration feature permits multiple users to read and write into
the company file at the same time.
2. Easy to set up
QuickBooks Online is just like a plugin and
go setup. The users can easily configure the account and use the available
templates for a basic account. Not only this, it is easy to use the software.
3. Remote Access
Remote accessing basically means that you can access your account from anywhere. The users can log in to the account and work from home or while traveling via PC or Smartphone.
4. Automatic interface with the bank
QuickBooks Online gives the option to the
users to accept credit card details or any electronic payment form and
automatically update bank transaction, ultimately minimizing the entry time.
5. Payroll integration
QuickBooks Online can be integrated with
third-party app, in order to carry out online payroll transactions.
QuickBooks Online allows easy access to
more than one admin preferences, and the users can set the rights of each user
in the employee online details.
7. Secure data
The confidential data of QuickBooks users are
securely saved in the Intuit served in the cloud. They don’t have to do the
manual data backup of the company files, along with that, it gives the users
access to comprehensive storage services.
it is a rarely encountered concern, with the growing number of cyber-attacks,
hackers can hack the network and tap some confidential information, such as
customer bank details over the transmission medium.
2. Limited internet access
issue that may arise is that QBO requires high-speed internet access, and many
users might have limited internet speed, ultimately slowing down access to
thing that might seem a con to many QuickBooks users is that it has a monthly
licensing fee for a single company file. If the client has multiple businesses,
he is required to pay a monthly fee for each of this company file, and this
adds to the cost of using QBO.
4. Software bugs
Software bug is another con of QuickBooks Online that might annoy the users at times, but each of the issues that the users might face can be resolved easily. There can be a few annoying software bugs from the upgraded version you have to deal with when dealing with QuickBooks Online.
Everything has its pros and cons and talking about QuickBooks, it comes with a wide breadth of features and has complex accounting capabilities. Though it also has certain cons, but tackling them is not a big issue. This software offers an impressive number of integrations and is working on bettering the customer support. Recently, QuickBooks Online adds a much-needed project management feature along with other new features, along with other new features, just as progress invoicing.
Answer – QuickBooks
Online was launched in the year 2004, and this software offers a robust feature
set, strong accounting, unique lending feature, and 500+ integrations. This
software is also pretty easier to learn and use, as compared to other software.
QuickBooks Online is supported on Chrome, Firefox, Internet Explorer 10, etc.
In a nutshell, it is one of the finest accounting software preferred by a
majority of entrepreneurs worldwide.
Question – How secure is QuickBooks Online?
Answer – In order to ensure that your data is secured, Intuit has put many features for security purpose. QuickBooks Online is one of the safest and secured accounting software that the majority of entrepreneurs prefer these days. QuickBooks Online protects the data and transactions with multiple layers of securities so that the confidentiality of the data of the users is not hampered in any case.
Question – QuickBooks Desktop vs QuickBooks Online, which one is better?
Answer – QuickBooks Desktop VS QuickBooks Online is one of the most common debate topics among entrepreneurs. The business owners generally get confused with the two options. Both QuickBooks Desktop and QuickBooks Online have their pros and cons. The biggest difference between the two is that QuickBooks Online requires no installation on a computer or Desktop. Also, the choice between the two depends on the type and requirement of the business. Thus, it is recommended to consult an expert before jumping onto any conclusion.
Question – How much time would it take to learn to operate QuickBooks Online?
Answer – QuickBooks Online is an easy program to learn. Majority of the times what the user sees on the screen is simple to figure out. It is not important to be an expert in accounting, to operate QuickBooks Online, but the person should possess the basic knowledge of accounting transactions or activities. QuickBooks Online doesn’t include any rocket science, as it can be easily operated with basic accounting awareness. Thus, learning QuickBooks Online is not as difficult as many people consider it to be.
We end this blog here, with the hope that it would help you in any way. However, if you seek for expert guidance, then feel free to dial our toll-free +1-844-405-0907, and find out solutions to all your queries.
All you need to know to Sign up for QuickBooks online accountant and troubleshoot error
If you are a QuickBooks user you’ll know how the accounting software has improved over the years. New features and tools are introduced to make it faster, more accurate, and user-friendly. QuickBooks Online Accountant is a feature that enables you to access your ProAdvisor benefits, manage and handle QuickBooks Online clients, and team up with other company members.
In this article, we will be discussing the quick fixes to the QuickBooks online accountant and troubleshoot error that the user might encounter while performing the update process. However, you can also contact our toll-free QuickBooks support number i.e. +1-844-405-0907, in order to get help from accounting experts to save your time and effort.
If you receive an invitation from a client to be an accountant in their QuickBooks Online Company, you find an invitation link that you can follow to sign up for QuickBooks online accountant and troubleshoot error. Accept the invitation and you will be able to sign up for QuickBooks Online Accountant.
In case you receive an error in the process of accepting the invitation, you can do the following.
Open invitation in “Private mode“.
Clear “Cache” and “Recreate the invitation“.
How to open a private browsing window?
You can use private browsing windows, also called incognito mode, to avoid damaged cookies, temp files, browser Add-ons, and other factors that may stop you from signing up to QuickBooks Online.
Here is how you can open private browsing window (incognito window) in Google Chrome:
Hold “Ctrl + Shift + N” keys to open the Incognito Window.
Open QB Online accountant user email invitation.
Find the “Invitation email” and right-click on the “Accept Invitation” link.
Select “Copy Link Address“.
Paste (by right-click or ctrl+v) the copied shortcut into the address bar.
Hit “Enter” and you will be redirected to the login screen for QuickBooks Online Accountant.
Log into “QuickBooks Online Accountant“.
Click on “Firefox” icon on the desktop to open a webpage.
Press “Ctrl + Shift + P” keys on the keyboard to open “Private Browsing“.
Open QB Online accountant user “Email invitation“.
Find the “Invitation email” and right-click on the “Accept Invitation link“.
Select “Copy Link Address“.
Paste the copied shortcut into the address bar in another or same private browsing window.
Hit “Enter” and you will be redirected to the login screen for QuickBooks Online Accountant.
QuickBooks Online Accountant enables you for a comprehensive range of benefits, including accessing your ProAdvisor benefits, managing and handling QuickBooks Online clients, and teaming up with your other firm members from anywhere. No matter you wish to work with clients in the cloud or merely using it to access certification courses, the Find-A-ProAdvisor directory, or other benefits, QuickBooks Online Accountant caters to all your business requirements. Also, it’s also It’s free.
If you own a paid QuickBooks Desktop ProAdvisor membership, QuickBooks Online Accountant can also assist you to manage those benefits and enable you to download your accounting software and access Desktop certification courses that are not available to free ProAdvisors.
We hope you find this blog post helpful in signing up for QuickBooks online accountant and troubleshoot error. In case you are still unable to login to QuickBooks Online or receive an unexpected error, you can dial 1-844-405-0907 and speak to our certified QuickBooks online support experts.