How to Clear Undeposited Funds in QuickBooks: Free Matcher Tool
If undeposited funds in QuickBooks® keep piling up, the usual cause is simple: customer payments were never grouped into the bank deposit they arrived in, so the books can't tell which payments belong to which deposit.
This free Undeposited Funds Matcher from LiveFixPro Bookkeeping does the matching for you. Paste the payments sitting in Undeposited Funds and the deposits on your bank statement, and it looks for the payments that add up to each deposit.
It runs in your browser. Nothing you enter is uploaded, sent or stored, and it works offline once the page is open.
What the matcher asks for
Payments sitting in Undeposited Funds. One per line, with the amount at the end. Copy rows from the Undeposited Funds register or a report and paste them in. Use the customer name or invoice number as the label.
Deposits on your bank statement. One per line, amount at the end.
Allowed difference (optional). Card and payment-processor deposits often arrive net of fees, so a deposit may be a little less than the payments behind it. Enter the most you'll allow it to differ, or leave it blank for exact matches only.
Don't enter bank account numbers. A label such as "Invoice 1001 Customer A" is plenty.
Tap Load a sample to see a worked example.
What you get back
Summary cards: payments entered, deposits entered, deposits with a suggested match, and payments left over.
A match table. Each deposit is marked "Adds up exactly," "Within allowed difference" (with the gap shown) or "No match found," next to the payments that add up to it.
Payments not matched to any deposit, so you can see what's left.
Print or CSV. Print the results or download them as a CSV. In the CSV, a payment or deposit label that starts with =, +, - or @ gets an apostrophe in front so a spreadsheet shows it as plain text.
The matcher looks for a single payment equal to a deposit, then checks groups of payments that add up to it. If more than one combination fits, it says so, so you can check dates and references before grouping. If you paste a very long list, it may stop early and ask you to try a shorter one. Zero or negative lines, such as refunds and credits, are set aside for you to handle separately.
These are suggestions based only on amounts. Dates, customers and references still decide which payments belong together.
Putting the matches into QuickBooks
Open Bank Deposit. In QuickBooks Online, choose + New, then Bank deposit.
Choose the bank account, then tick only the payments in the matched group.
Check that the deposit total on screen equals the bank statement line, then record it.
Repeat for each matched deposit.
Reconcile the bank account afterward and confirm Undeposited Funds is where you expect it to be.
Look into anything left over. Common causes are a payment never deposited, a duplicate, a payment entered under the wrong date, or a deposit recorded straight to income.
Related checklists
If you're clearing this before a close, see our QuickBooks month-end close checklist.
Why it matters
Payments left in Undeposited Funds, or deposits also entered as income, are a common reason a balance sheet or bank reconciliation looks off. Once the balance is where you expect it, the next step is to review your reports.
Want help cleaning it up?
If Undeposited Funds is a mess you'd rather hand off, LiveFixPro Bookkeeping offers cleanup $1,999 and monthly bookkeeping $499/mo. Book a free consult and we'll go over where your file stands. Scope is confirmed on the consult.
FAQ
How do I clear undeposited funds in QuickBooks?
Group each customer payment into the bank deposit it arrived in, using the Bank Deposit screen. The matcher shows which payments add up to each deposit on your bank statement, so you know which ones to tick. Then reconcile the account.
Why are payments stuck in Undeposited Funds?
Usually they were received but never grouped into a bank deposit. Other causes are duplicates, payments entered under the wrong date, or a deposit recorded straight to income.
What if my deposits are smaller than the payments because of fees?
Card and payment-processor deposits often arrive net of fees. Enter an allowed difference and the matcher will show matches within that gap, with the difference listed.
Does the matcher connect to QuickBooks or upload my data?
No. It only uses what you paste in, runs in your browser, and doesn't upload, send or store anything.
Will the matcher make sure my books are correct?
No. It suggests matches from amounts only. Check dates, customers and references before you group payments, or ask a bookkeeper for help.
Match your deposits now
Use the matcher above to find your matches, and book a free consult if you'd like help with cleanup.
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