Importing deposits into QuickBooks

Overview of importing deposits into QuickBooks Desktop

In QuickBooks desktop a deposit transactions is used to record direct payments made by customer for goods or services provided by the company.  Using Zed Axis you can import deposits from text files or from Excel spreadsheets directly into QuickBooks Desktop.  

Steps to import deposits into QuickBooks Desktop

Follow these steps:

  1. Download and install the Zed Axis software on your computer
  2. Open your QuickBooks company file as Administrator and open Zed Axis
  3. Select your text file or spreadsheet which contains the deposits that you want to import.
  4. Set up the a Mapping of the columns in your deposits import file to the corresponding fields in QuickBooks
  5. Click Import and your deposits will be directly added to your QuickBooks company file.

More help?

For more information about importing deposits into QuickBooks, search the Knowledge Base, watch the movies in the Learning Centre, or raise a ticket with Zed Support

Zed Support Download a sample deposit tab delimited text file

Demonstration of importing deposits

Where the fields appear in QuickBooks Desktop

Import deposits into QuickBooks

Detailed description of the fields you can map. 

QuickBooks Field  TypeDescription
Txn ID GUID MandatoryPlease specify a reference number to use when importing or when modifying deposits in QuickBooks.
Txn DateDate TypeThe date of the transaction.
Deposit To Account Str Type (159)MANDATORY FIELD Refers to the account where these funds will be (or have been) deposited, typically a bank account. nb. QuickBooks will not permit you to make deposits to the Undeposited Funds account, try Receive Payments instead or create a temporary special account in QuickBooks to deposit into.
MemoStr 4095 Additional information
Currency RefStr Type (64)Currency of the deposit (only if you are using Multi Currency)
Exchange RateFloat TypeThe exchange rate is the market price for which this currency can be exchanged for the currency used by the QuickBooks company file as the "home" currency
Account RefStr (159)MANDATORY FIELD the company files list of Chart of Accounts, for example Undeposited funds or Sales....
AmountAmtType A monetary amount.
Entity RefStr (209) a customer, vendor, employee, or person on the QuickBooks "other names" list
Check NumberStr 11 Reference number for the deposit
Payment Method RefStr 31 The payment method
Class RefStr 159 Refers to the class used
Deposit Line MemoStr Type (4095) Memo used at the line level


Error: Only QuickBooks can make deposits from Undeposited Funds
It is not possible to make deposits to the Undeposited Funds account, that is a restriction imposed by QuickBooks, you need to choose either a bank or asset account for the DepositToAccount field, as an alternative you could use the Receive Payment type import


We found TWO creative ways around the Undeposited Funds "feature" in QuickBooks that can add to your knowledge base:
1. We set up a contra-account to Undeposited Funds asset account in QuickBooks chart of accounts and posted the deposit offset there.
2. Unclick the Default Undeposited Funds box in QuickBooks Company Preferences and set up a Deposits-In-Transit asset account. During the Receive Payments Import step, we used this account as the debit account instead of Undeposited Funds. Then in the Deposits step we used this account as the credit account.

Have a great day! Bill Wood

Steve (2/17/2021 at 12:16 AM)