I have my bank attached to QBO. Currently - when I receive a payment for an invoice, I open the customer, select the invoice, receive payment and fill in all info. The payment goes into my UNDEPOSITED FUNDS. From there, (I thought) I was to go to bank deposit and pull all the payments I made for the day and create my deposit. However, my recorded payment/s never show up here. Instead, I have to do a Journal entry from UNDEPOSITED FUNDS to my GENERAL FUND. I run a register for the day and export to excel to make up a manual deposit ticket.
I called Intuit and the guy I spoke to said I'm doing it wrong. He said that I need to just take all my checks to the bank and deposit them - then wait for them to hit my General Fund register in Intuit and match them up to my invoices. This doesn't seem right to me. First of all, how do I make up the deposit slip if I haven't received the payments in the system? 2nd - why should I just trust the bank to make the deposit right and I have nothing recorded on my end.
In any event, I can find no actual procedures anywhere on how to properly received my payment - then make the deposit - when I have the bank account attached. Can anyone help? I've been struggling with this for over 4 months.