Handle undeposited funds

If you receive multiple customer payments that you plan to deposit together later, you can record each payment as a separate transaction and use the Undeposited Funds account to temporarily hold them. This allows you to match the combined deposit to a single bank deposit transaction when it appears in your bank feed.

Note: This feature is available only in the Business & Personal edition of Quicken Classic for Windows.

When to use this

Use this process when you receive multiple payments from customers but deposit them into your bank as a single combined transaction. Holding them in Undeposited Funds helps you reconcile the deposit accurately without making your register messy.

Example: You receive three checks totaling $600 and deposit them together. Instead of recording three separate deposits to your bank account, you first place them in Undeposited Funds, then create one matching deposit.

What this does

This process records incoming payments in an internal holding account. When you're ready to make the actual deposit, you move the combined funds into your bank account. The transaction matches what your financial institution reports.

Step 1: Record the payments into Undeposited Funds

1. Open the Customer Invoices account.

2. Locate and open each invoice.

3. In the invoice form, click Receive Payment.

4. In the Payment – Customer Invoices window:

   • In the Deposit to field, select Undeposited Funds.

   • Complete the remaining fields as needed.

5. Click Enter.

Repeat for each payment you want to include in the combined deposit.

Step 2: Deposit the combined total into your bank account

1. Open the Undeposited Funds account.

2. Select each payment you want to include in the deposit.

3. Click the gear icon and choose Make Deposit.

4. In the Make Deposit window:

   • Select the Bank Account you’re depositing into.

   • Verify the combined Amount matches the deposit on your bank statement.

5. Click Enter.

The funds move from Undeposited Funds to your selected bank account as a single transaction.

Note for our Canadian Customers

The following terms will be different in the Canadian releases of Quicken.

Canada: "Cheque" / United States: "Check"
Canada: "Colour" / United States: "Color"
Canada: "Centre" / United States: "Center"
Canada: "Realise" / United States: "Realize"
Canada: "Behaviour" / United States: "Behavior"
Canada: "Analyse" / United States: "Analyze"