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Undeposited Funds in QuickBooks

Undeposited Funds in QuickBooks

Do you know what an undeposited funds account is and how to combine multiple payments together in QuickBooks? Well, if not, then this segment is something you need to go through. When you put money in the bank, you might deposit several payments at once. Let’s say that you deposit five $100 checks from different customers into a real-life checking account. The bank records all five checks as one US $500 deposit. Thus, you need to combine your five separate US $100 records in QuickBooks, in order to tally what the bank shows as one deposit. However, if you are downloading transactions directly from the bank, then the need to do this is eliminated.

To help you understand Undeposited funds in QuickBooks, here we are with this segment sharing the complete info. For more details, read this segment carefully. You can also contact our technical support team at +1-866-453-7060, and we will provide you with answers to all your queries immediately.

You might find this helpful: How to Delete a Journal Entry in QuickBooks? 

How Undeposited Funds in QuickBooks Work?

One can use the undeposited funds account to hold invoice payments and sales receipts that are to be combined. It is similar to a lockbox or drawer where you keep your payments before taking them to the bank. When you have your deposit slip, you need to make a bank deposit in QuickBooks, to combine payments in undeposited funds to tally. This process, ascertains that QuickBooks always matches the bank records. Furthermore, it ensures that your reconciliation process becomes much easier.

Undeposited funds in QuickBooks Online

Also Read: How to Record Vendor Refunds in QuickBooks Desktop?

Steps for Clearing or Deleting the Undeposited Funds in QuickBooks Desktop

You can successfully clear undeposited funds in Quickbooks using the set of steps enumerated below. Let us have a look:

Clear undeposited funds in QuickBooks Online
  • You need to simply login QuickBooks and then click on Banking
  • Once done with that, select the option to make deposits from the list present.
  • After that, locate the payment that you want to deposit within the undeposited account
  • Followed by, selecting the payment by heading from the payments tab and selecting make deposits tab.
  • Now, click on ok tab.
  • Also, you might now be able to see the deposit window showing up on the screen, where you need to click on the deposit tab and select the preferred bank from the list of the drop down options.
  • Now, select the date of deposit and any other relevant information, that you would want to record.
  • Moreover, if you want to print a deposit slip for maintaining a physical record of all the deposits, then you would simply have to click on print command and then the slip will be printed.
  • The last step is to click on the OK tab and then your funds will get cleared from the undeposited account.

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Steps to clear undeposited funds in QuickBooks Online

Clearing or deleting undeposited funds in QuickBooks online can help you in keeping the records better and further ascertains that your financial records are more accurate.

Visit Intuit website and log in to qbo account-Undeposited funds in QuickBooks
  • Now, click on the balance sheet.

Similar Article: Resolve the Balance Sheet Out Of Balance In Accrual Basis

balance sheet
  • You now have to click the amount on undeposited funds.
Amount on Undeposited Funds
  • After that click here.
Click here reports
  • Now click on + icon or new tab.
Undeposited funds in QBO
  • After that, click on the bank deposit option.
Bank deposit
  • Select bank account option for the deposits.
Bank account for deposits
  • The next step is to click on the Checkboxes for the deposits.
Undeposited funds
  • The last step is to click on Save and close tabs.
Save and close the account

Enter funds in the undeposited account

You can try entering funds in Undeposited accounts, using the steps below:

  • The very first step is to launch QuickBooks.
  • And later on, click on the list from the menu.
  • Also, you need to pick the items tab which will lead you to the drop-down menu.
  • After that, select the type of payment you want.
  • Now, cater the details required.
  • Select the accounts tab.
  • Pick the account type as an undeposited account.
  • Also, click on ok tab.
  • This will create an entry in an undeposited account.

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Conclusion!

Coming to the end of this segment, we believe that the reader might be able to understand Undeposited Funds in QuickBooks in a better way. However, if there is any query that is still unanswered, then in that case, contact our technical support team at +1-866-453-7060, and we will provide you with all sorts of technical guidance.

FAQs Related to Undeposited funds Account in QuickBooks

What type of account is undeposited funds?

Undeposited funds is simply a holding account that usually tracks payments received from customers that have not been deposited to the bank account. Add image

How do I resolve undeposited funds in QuickBooks?

You can correct the undeposited funds in QuickBooks using the steps below:
1. Click on the +New tab
2. After that, choose Bank deposit
3. From account ▼dropdown, select the account you wish to put the money into.
4. Enter a checkmark on the boxes for each transaction.
5. Further click on save and close.

Is undeposited funds debit or credit?

Well, it can have both debit as well as credit balance. When you get the payment, the balance will be debited to the undeposited fund account, and when you make the deposit entry, the account will be credited with the amount of the deposit in the QuickBooks

Set up Landed Cost in QuickBooks Enterprise 

Set up Landed Cost in QuickBooks Enterprise 

With QuickBooks Enterprise managing business has become a lot easier and accurate. One such feature that adds value to a business is the landed cost. The landed cost basically helps to factor in freight, duties, insurance, and other expenses, simply to understand and evaluate the true product cost easily. After you set up landed cost in QuickBooks Enterprise, it is possible to see it for any bill you add inventory and shipping items to. 

Landed cost can be a bit confusing for you, if you are new to QuickBooks. So, here we are with this segment sharing the complete information about landed cost, along with the ways in which you can set up landed cost in QuickBooks Enterprise. To learn further, stick around, or you can also connect with our technical support team at +1-866-453-7060, and let our experts help you with your queries immediately. 

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What is landed cost in QuickBooks Enterprise?

Set up Landed cost in QuickBooks Enterprise

Before you set up and calculate landed cost, it is crucial that you first understand what landed cost is all about. Landed cost basically helps in keeping track of the product costs in a more precise manner. You can use landed cost to factor in things like shipping, customs duties, insurance, and other items. This is basically the total price of a product by the time it makes it to the buyer. When you calculate this number manually, it can turn out to be tiring, inaccurate, and confusing. Thus, landed cost in QuickBooks desktop enterprise can help you in cutting down the efforts. After setting it up, you will be able to see it for any bill that is adding inventory and shipping items. QuickBooks involves landed cost calculation in the bills as part of shipping and handling bills. 

Landed cost in Quickbooks enterprise

Reasons why landed cost is not calculated in the bill 

There are a few reasons why landed cost is not calculated in the bill. This includes the following: 

  • In case the bill is missing inventory and assembly items
  • Or if the inventory and assembly item bill are open, or another user is making use of it. 
  • Another reason can be if the currency of the cost is different. 

To ascertain that the landed cost is calculated properly, we suggest using an enhanced inventory-receiving workflow. 

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Quick Steps to Set up Landed Cost in QuickBooks Enterprise 

You can perform the following steps to set up landed cost in QuickBooks Enterprise. Let us evaluate: 

Step 1: Set up landed cost account 

In order to set up landed cost, you will have to first turn on advanced inventory for QuickBooks desktop enterprise. You can further create a new account or make use of an existing account to map shipping and handling items. The steps involved in here are as follows: 

  • The very first step is to choose preferences from the edit menu. 
  • Now, go for items and inventory and then choose company preferences. 
  • Once done with that, choose advanced inventory settings 
Advanced inventory settings - Set up landed cost in QuickBooks
  • Followed by selecting the landed costs tab and also choose set up landed cost account. 
  • The next step is to create either a new account or use an existing account and choose save and continue. 

Step 2: Map shipping and handling items to the landed cost account 

You need to choose shipping and handling items or add new items like shipping, customs, labor, etc. 

  • Here you need to go for Shipping and Handling Items dropdown 
  • After that, go for the shipping and handling items that you want to map. 
  • The last step here is to choose save and close. 

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Create new items for landed cost 

To simply create new items for landed cost, you need to create an item type of other charge and then add it to the landed cost account. 

  • The very first step is to choose item list 
  • Go for item and click on new 

You will have to add it to the landed cost account, which can be done as follows: 

  • Choose preferences from the edit menu 
  • Go for items and inventory and then go for company preferences 
  • The next step is to choose advanced inventory settings 
Advanced Inventory Settings- Set up landed cost in QuickBooks enterprise
  • Now, go for the landed costs tab and then go for managing landed cost account 
  • The user needs to then choose save and continue 
  • Also, go for add item and select an item to add. 
  • The last step is to choose save and close. 

After you have mapped shipping and handling items, you can simply calculate landed cost in QuickBooks enterprise services. 

How to calculate landed cost in QuickBooks Enterprise Services? 

After setting up the landed cost, you can simply calculate the same by performing the steps below. 

Step 1: Add inventory and assembly items from a bill 

  • Go for the inventory 
  • And then, head to calculate the landed cost item 
  • Now, go for add bill from inventory and assembly items 
  • The next step is to select a bill having the inventory items
  • Lastly, select the add bill option. 

Step 2: Add shipping and handling items to the bill 

  • Choose add bills option from the shipping and handling costs section 
  • Now, choose shipping and handling bills for the inventory you would like to calculate. 
  • After that, choose Add bill 

Step 3: Calculate the landed cost of the bill 

  • Go for the spill bill dropdown menu. Note that, you can split shipping and handling costs between the inventory and assembly items by quantity, amount, and percentage. You can do it manually. 
  • The next step is to choose post to bill option to add the landed costs to the bill. 

Step 4: Update selling price based on landed cost 

This step isn’t a mandate. As the landed cost gives you a more accurate cost of the goods, you wish to update some of the selling prices. The steps involved here are: 

  • Select the items that you would like to update the price for. 
  • Now, add a new selling process, and go for the update and proceed tab. 
  • Then click on skip and proceed, in case you do not need to update the price. 
  • The last step here is to update the bill and select save. 

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Conclusion! 

Now that you know what is landed cost and you can set up landed cost in QuickBooks Enterprise services, it is time to perform the steps manually. In case you are unable to do so, or if you do not want to perform these steps on your own, then simply get in touch with our technical support team at +1-866-453-7060, and we will provide you with immediate support and assistance. Our technical support team will ensure that all your QuickBooks-related queries are addressed as soon as possible. 

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How to fix Error code: – subsui-error-10004? 

How to fix Error code: – subsui-error-10004? 

Error code: – subsui-error-10004 shows up when trying to re-subscribe to your QuickBooks online account. When such an error occurs, one might be unable to add eCommerce to the QuickBooks Online account. To help you out with this, we have curated this article sharing the quick steps that can be performed to fix Error code: – subsui-error-10004. However, if there is any query, or if you need any sort of technical guidance, then in that case, feel free to contact our technical support team at +1-866-453-7060, and we will ensure that you get instant support and guidance. 

Also Read: How To Set Up a Chart of Accounts in QuickBooks?

What is Error code: – subsui-error-10004? 

Such an error in QuickBooks is caused by incorrect or invalid company address on file. One needs to ensure that the credit or debit card used to pay the QuickBooks online subscription has a US-based billing address. 

Error code: - subsui-error-10004

This error shows up with a warning message: Unable to process your request at this time. Please sign out and try again later. If the issue persists, please contact support and reference this message. (Error code: – subsui-error-10004). As a result of this issue, one cannot log in to QuickBooks Commerce/tradegecko as I do not have an active subscription to QuickBooks Commerce. 

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Quick Steps to fix Error code: – subsui-error-10004 

One might face this issue when credit cards on file expire. It can also be seen as (-subscrib-error-10004) when you try to re-subscribe to the QuickBooks online account. Though there is no definite fix to this issue, you can try performing the below steps: 

Add eCommerce to QuickBooks Online Account 

To Add eCommerce to your QuickBooks online account, you need a connector. There is a third-party connector that is already integrated with QuickBooks. You can browse the link: Ecommerce Connector. This will route you to the QuickBooks app store to help you get the app. In case you need any sort of assistance, then make sure to contact the app provider. 

Other Solution 

As we mentioned earlier, to avoid this issue, you will have to ensure that the credit or debit card used to pay your QuickBooks online for a US version subscription has a US-based billing address. 

You might find this helpful: QuickBooks Credit Memos – How to Create and Apply?

Conclusion!

Though there are not too many solutions to this error, performing the above-discussed ones might help. As this error is very much unique, you might find it a bit difficult to deal with this issue. In case you need any sort of technical guidance, then in that case, feel free to contact our team at +1-866-453-7060, and we will ensure that all your queries are addressed immediately. 

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Add Accountant to QuickBooks Online

Add Accountant to QuickBooks Online

When working on QuickBooks, there can be a scenario when you might require your accountant to review your books, make corrections, and collaborate on any issues. When it comes to accountant users, they have additional privileges that let them undo the entire reconciliations, reclassify transactions, and further write off invoices. Accountant users can also use accountant-specific tools in order to help in preparing for taxes. Not just that, QuickBooks users can give their accountant access to QuickBooks self-employed company files and accounting info. Giving them access lets them review the books and perform necessary corrections. When you add accountant to QuickBooks online, it becomes easier for the user to collaborate with the accountant, especially when it comes to tax season.

Quick Note: Regular accountant users do not count toward the usage limit. They will consider when you make them your company’s primary admin. In case you want to manage regular users, then you can simply add and manage users in QuickBooks Online. To help you out in adding accountants to QuickBooks online, here we are with this segment sharing the complete set of steps and procedures that can be performed to add users successfully. However, if you have any queries, then dial  +1-866-453-7060, and our experts will be there to provide immediate technical guidance.

Also Read: Convert an Accountant’s Copy to a Regular Company File – QuickBooks

Steps to Invite Accountant to QuickBooks Online

In order to invite your Accountant to QuickBooks online, you need to carry out the steps below:

  • Begin with signing in to Quickbooks online as a primary admin.
  • Once done with that, go for the settings tab and further choose manage users
Add accountant to QuickBooks online
  • The next step is to choose accountants or accounting firms tab
  • Now, enter your accountant’s email address and then choose Invite.

What happens when you invite your accountant?

Add accountant to QBO
  • When you invite your accountant, he/she will receive an email regarding the invitation. When the status on the manage users page changes from Invited to Active, it indicates that the accountant has accepted your invitation.
  • Note that, the accountant will get a link to access QuickBooks online company in case they are already using QuickBooks Online Accountant. In case they do not, then simply they would have to sign up. It should be noted that the process to sign up is free and lets the accountant users to access all of the features that are available in your QuickBooks online version that too at no cost to you.

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Steps to Remove An Accountant from QuickBooks Online

The Accountants do not have the authority to remove other accountants or themselves from Manage users page. Just in case you no longer wish an accountant to access your books, then you can remove them using the below steps:

  • To begin with, simply sign in QuickBooks online as primary admin
  • Once done with that, navigate to the settings tab
  • And choose manage users
  • You now have to opt for the accountants or accounting firms tab
  • Now, find the accountant you wish to remove
  • Furthermore, from the action column, go for the delete tab.
  • The last step is to choose delete and you are done with the process.

Steps to Invite an Accountant in QuickBooks Self-Employed

You can let your accountant review your books in QuickBooks self-employed using the steps below:

  • Begin with signing in to QuickBooks Self Employed
  • After that, choose settings and go for Accountant.
  • You now have to enter your accountant’s email address in the accountant email field.
  • Followed by selecting Send Invitation.
  • The next step is to choose text a code to verify your identity.
  • This will send a verification code to your registered mobile number.
  • You will then have to enter the verification code and click on the Continue tab.

It should be noted that:

  • Doing this will email an invite to the accountant.
  • Also, you will get an email notification after the accountant accepts the invite.
  • Once they accept it, they can access the accounts using QuickBooks Online Accountant.
  • You might need to resend invitation if they do not receive the invite.

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Steps to Remove an Accountant in QuickBooks Online

Now that you have done the necessary task and you do not want your accountant to have access anymore, you can simply carry out the steps to remove them. The steps involved in here are:

  • At first, choose the settings tab and go for accountant.
  • Once done with that, look for the accountant you wish to remove.
  • Now, click on remove accountant next to their name.
  • The accountant will now have no more access to the company file.

Steps to Send Copies of Reports to Accountant

  • You can simply head to the reports menu.
  • There, find the report that you like to send to your accountant.
  • After that, choose the time period or tax from the dropdown menu.
  • And then, click on view or download.
  • The last step is to select print or download from the dropdown.

You might now be able to send the report to your accountant via email or mail.

Here is: How to Sign up for QuickBooks Online Accountant & troubleshoot any probable error?

Conclusion!

Now that you know how to add an accountant to QuickBooks Online and self-employed, it is time to implement these steps. However, if you are not sure about implementing the steps or if you need any sort of technical guidance in adding accountant to QuickBooks online or self employed, then in that scenario, do not hesitate in contacting our QuickBooks technical support team at +1-866-453-7060, and our certified QuickBooks ProAdvisors will help you in successfully adding the accountant user without stumbling upon any sort of error.

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