One of the primary benefits for associations using QuickBooks Payments is their accounting automation.
When a payment is made on an invoice, QuickBooks Payments will notify you of that payment via email.
The system will also automatically receive that payment against the open invoice, taking yet another manual task off of your plate. You will notice these received payments inside of your Undeposited Funds asset account.
Like many payment processors, QuickBooks Payments will batch payments together and deposit funds into your account.
Unlike other payment processors, however, QuickBooks Payments will automatically log the accounting transactions inside of your books, automatically creating the entry that moves this amount from Undeposited Funds into your bank account.
Error Message: Some QuickBooks Payments deposits weren't automatically recorded.
When QuickBooks cannot match your actual credit card & ACH transactions to deposits automatically, the system will ask you to do it manually. The process you'll take is identical to processing a bank deposit for checks you have received.
How to create a deposit.
We have worked with QuickBooks to greatly reduce the chances of you seeing this message, but if you do see it, QuickBooks will alert you to this when you first log in:
Viewing "Hidden" QuickBooks Payments Transactions
Underneath the list of payments you're used to seeing, you will notice a "QuickBooks Payments" label. Clicking on the arrow will open up a "hidden" section showing the pending items.