Error: You can only deposit to Bank or other current asset type accounts

Legacy KB ID: 4633

Question

Why do I get the error:  You can only deposit to Bank or other current asset type accounts when I click on the Receive Payments icon on the Homepage or from the Customer Dropdown menu.

Answer

We are unable to explain the occurrence of this error.  Our Development Team is investigating.

 

Workaround

1.    Click on Edit > Preferences > Sales and Customers > Company Preferences;

2.    In the Receive Payments area tick the box Use Undeposited Funds as a default deposit to account then click OK;

3.    Click on Customers > Receive Payments, and the Receive Payment window will open;

4.    Select a customer with an open invoice and receive a payment.  This payment will go to Undeposited Funds;

5.    Now go back to Edit > Preferences > Sales and Customers > Company Preferences , and in the Receive Payments area untick the box Undeposited Funds as a default deposit to account and click OK;

6.    Now receive another payments and you won’t get any error message and all your bank accounts and Undeposited fund account will be available in the Deposit to field.

 

How did we do?

Accounts Business / QuickBooks hangs when click Reconcile Now

Recovering lost downloaded BankData transactions on Accounts Business

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