The “normal” balance for the Undeposited Funds account is $0. If you see a balance in Undeposited Funds on your balance sheet, you need to investigate. Here’s what you need to know about QuickBooks Online’s Undeposited Funds account to keep your business accounting operations running smoothly. Sorry for bothering you, but I have deleted those …

Negative Undeposited Funds & Journal Entries Read More »

Do you have a growing balance in Undeposited Funds? Do you have lots of payments in Undeposited Funds? Have you tried to fix it with a Journal Entry debt to asset ratio formula and discovered the payments are still showing up to be deposited? (you can’t fix Undeposited Funds properly with a Journal Entry in …

How to Use Undeposited Funds in QuickBooks Online Read More »

If this has already been reconciled, you can perform a special reconciliation to address the issue afterward. Based on the information you’ve shared, it appears that there’s a bank deposit that was created in the past but wasn’t made from Undeposited Funds. This would normally work but when I try to post the deposit from …

How to resolve negative entries from Undeposited Funds in QuickBooks Online Read More »

Even if you have a PTIN but you received it prior to September 28, 2010, you must apply for a new or renewed PTIN by using the new system. If all your authentication information matches, you may be issued the same number. You must have a PTIN if you, for compensation, prepare all or substantially …

Get an Individual Taxpayer Identification Number ITIN to file your tax return Read More »

Spreadsheets, such as Microsoft Excel, can be used for simple bookkeeping. More commonly, entrepreneurs use comprehensive accounting software like QuickBooks that can handle a larger volume of transactions and provide a deeper analysis. QuickBooks Live Expert Assisted can help you streamline your workflow, generate reports, and answer questions related to your business along the way. At some point you’ll probably …

23 Accounting Tips for Small Business Owners Read More »

There are many easy programs to use for small business bookkeeping. FreshBooks is one of the most highly rated and straightforward programs for accurate accounting records, professional bookkeeper services, and more. Luckily, most modern-day bookkeeping and accounting software have tools that make cash flow tracking a breeze. The more you automate, the more time you …

Bookkeeping basics: A guide for small businesses Read More »