How to Clear or Delete the Undeposited Funds from the Bank Deposit?

by James Antonio

Before starting on the process part, let us first look into the relevance of the undeposited funds in QuickBooks. Undeposited funds account in QuickBooks is used to hold invoice payment and sales receipt you wish to combine.

It is a temporary virtual space for holding the payment till the time you do not have the deposit slip. Once you have your deposit slip then you can make a bank deposit in QuickBooks to match the undeposited funds.

The undeposited funds account is an internal ‘other current assets account’ that is created by QuickBooks itself. The feature helps in invoicing process by connecting receive payment and bank deposit feature in QuickBooks.

Now if there are a lot of old entries in your QuickBooks undeposited fund account, then you would like to clean up these entries, it is recommended that you apply the utmost care while doing this.

You should be clearing or deleting only those entries from the undeposited funds account in QuickBooks where the money has been deposited in the correct bank accounts and everything is reconciled.

In other, you should be deleting only those entries which are not required anymore. Now when we have a good understanding of the purpose of the undeposited fund account in QuickBooks, let us move ahead and look into the process steps of clearing or deleting the fund from the bank deposit in QuickBooks in the next section.

Clear or Delete the Undeposited Funds

Steps to Clear or Delete the undeposited Funds from the Bank Deposit in QuickBooks

So, once you have decided to clear the undeposited funds’ account, you can follow the below steps to do so. But do ensure that you reconcile the data first because only those entries should be deleted which have been already assigned to the bank register. In other words, the entry which is already posted everywhere and is no longer required to be reflected in the undeposited funds’ account should be cleared out.

Steps to Reconciling the Data

Step 1. First of all, open the QuickBooks Online > click on settings and then click on Reconcile. You need to take out your Bank statement for performing reconciliation so keep it handy.

Step 2. In this step, choose the bank account, enter the start and end date from the statement and click Start reconciling. Now start matching or reconciling every entry from your bank statement to the corresponding item on the screen.

Step 3. Verify the balances by matching from the top once you are done with one-to-one transaction matching and click on Finish.

If you are able to reconcile the bank data successfully without any issue, then the transactions or entries left in the undeposited fund account are duplicate ones and need to be deleted. Let us see below the steps for doing so:

Steps to Clear out Undeposited Funds

Step 1. First of all, click open QuickBooks Online and click on the Plus icon and after that click on Bank deposit.

Step 2. Now go to the payment that is duplicate and needs to be deleted and click on the customer’s name to open the transaction.

Step 3. Now go to the bottom of the payment screen and click on More and then select delete to clear the entry.

We have also collated some FAQs for your quick reference purposes, let us look into those as well. They will clear the other doubts on related topics as well.

How can I remove the undeposited Fund altogether in QuickBooks?

Well, you can delete payments from the Undeposited funds by clicking open QuickBooks account and going to Lists > then Chart of Accounts > Undeposited fund > Amount. After that, you need to right-click on the amount and click on delete deposit.

What are the Process Steps to Change the undeposited Fund to Deposit in QuickBooks?

First of all, click on the plus button icon (+ icon) and choose Bank deposit. Now choose the account you wish to put money into in the Account dropdown menu and put the checkmark on boxes against each transaction and click on save and close.

What would be the Nature of the Undeposited Fund Account, in other words, will it have a Debit or Credit Balance?

It can have debit as well credit balance, whenever you have received the payment the balance will be debit in the undeposited fund account and when you make the deposit entry the undeposited fund account will be credit with the amount of deposit in the QuickBooks.

How can I fix the Negative Balance in the Undeposited Fund account in QuickBooks?

You can easily resolve the issues relating to negative transactions in an undeposited fund account by making a zero-value deposit and entering the negative value deposit in it. You can do so by clicking on the plus icon > select Bank deposit under other section > choose the payment and journal entry you created and make sure they are offsetting i.e., totaling to zero and click on save.

What are the steps of Reconciling the Deposits in QuickBooks?

First of all, open QuickBooks and find the deposit in the register, and double-click on the DEP line. Now delete the deposit line by clicking ctrl+del on your keyboard and choose the payment button from the top. After that put checkmarks next to the payment transactions that these deposits belong to, click on save, and close.

Can you list down the Process Steps to Delete the Duplicate Deposit in QuickBooks?

First of all, choose Banking from the top menu, and select Bank feeds and then bank feeds centre. Now click on the transaction list button, and look for the duplicate deposit and put a checkmark in the box to select it, now go to the action column and choose ignore. After that click on ‘Yes’ to delete the deposit.

Features of Dancing Numbers for QuickBooks Desktop





How Dancing Numbers Will Help You


Dancing Numbers is SaaS-based software that can easily be integrated with your QuickBooks account. You can import, export, and delete lists or transactions from your company file. Using Dancing Numbers you can simplify and automate the process, saving time and increasing productivity. Just fill in a few fields and apply the relevant features to complete the task.

It saves your time and money that you can invest in your business. It has no human errors, works automatically, provides a user-friendly interface (easy to use and learn), and more. You can also have access to the comprehensive features set if you use it to import, export, and delete services.

Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Receive Payment
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Journal Entry
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items


Inventory Adjustment
Inventory Transfer
Vehicle Mileage

Technical Details

Devices Supported

  • Windows


  • On Premise

Language Support

  • English

Pricing Model

  • Annual Subscription

Customer Types

  • Small Business
  • Medium Business



Importer, Exporter & Deleter

*See our Pricing for up to 3 Company Files

$199/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Unlimited Export
  • Unlimited Import
  • Unlimited Delete


Accountant Basic

*See our Pricing for up to 10 Company Files.

$499/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer,Exporter,Deleter
  • Unlimited Users
  • Unlimited Records
  • Upto 10 companies


Accountant Pro

*See our Pricing for up to 20 Company Files.

$899/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 20 companies


Accountant Premium

*See our Pricing for up to 50 Company Files.

$1999/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 50 companies

Frequently Asked Questions

How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.

How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.

How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.

How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.

Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.

What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.

How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.

How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.

Get Support

The Bulk Import, Export, and Deletion can be performed with just an easy single-click. We offer a simplified process that assures you that you will be able to focus on your core work.

Are you worried about losing your time with error-prone software? Worry no more. Our error-free add-on lets you focus on your work and boost your productivity rate to a considerable extent.

Most Recent Updates