Default deposited to account
Software: QuickBooks accounting software
I used to be able to select a different bank account in Receive Payment transaction, can I still do this in new QuickBooks 2011/12 version?
For those who had recently upgraded to QuickBooks 2011/12 had wondering why the "deposited to" field was missing in the Receive Payment transaction window.
For QuickBooks 2007/08 or earlier version, users are allowed to select depositing their payment received from customer to either Undeposited Fund account or other bank account. However, since QuickBooks version 2009/10, Reckon had set the Undeposited Fund account as the default 'deposited to' account.
Note: this applies to QuickBooks 2011 Canadian version too.
In the newer version, if you prefer to have an option, you can turn off the Undeposited Fund account as the default 'deposited to' account by going to the Preferences window, Company Preferences tab of the Sales and Customers preferences, unchecked the check box for 'Use undeposited fund as a default deposit to account'.
After unchecked the default option, 'deposited to' field will be automatically shown on the Receive Payment window for you to select your preferred bank account to deposit your money received from customer.