Maybe its time to switch to QuickBooks Online. I waited for over an hour for his supervisor to get on the phone and he Chris told me he was too busy to speak with me at the moment and would call me back. QuickBooks will pull up all outstanding invoices attached to that customer and autofill information accordingly. If you see this account spike up, that means that you are not recording things correctly or the merchant service provider is not making the deposits. Very often, for reasons only known to the merchant service provider, the Wednesday deposit might include only client A and C and Thursday might get the deposit from client B and D. Because of the lag issue described above, the statements from the merchant service provider can be confusing. Search the forums for similar questions Note: Your merchant service processor actually deposits any payments made by credit card or e-check, but you must still record the deposit. In QuickBooks, you would typically use the function Make Deposit to move the funds from the Undeposited Funds account to your checking account. Merchant Mavericks ratings are not influenced by affiliate partnerships. In the Vendors drop-down, choose Pay Bills and the bill that has been created will appear. I have a situation that I need some guidance on. I know that you did everything you could. If you see it go negative, that means that you didnt record the payments from your clients correctly. This whole situation is quite disturbing. I provided these documents immediately. The funds went on hold about 3 days ago because of issues with [business name]Merchant services. All you have to do is review how QuickBooks grouped and recorded the bank deposits. Which Business Bank Account is Right For You? In the first step compare and record all the transactions in a batch. The benefit of this suspense account technique is that it is much faster and it still gives you some reasonable control. The two articles you listed did not provide any information I am not already aware of. All Rights Reserved. You can rest easy knowing that your QuickBooks information is correct. [business name] is also my business. Now return to your home screen. Don't hesitate to get back to this thread if you have further questions about on hold and delayed funds.