RECORDING PAYMENTS AS UNDEPOSITED FUNDS IN QUICKBOOKS ONLINE
Автор: Julie's E-ducation Hub
Загружено: 2023-04-11
Просмотров: 192
Описание:
The Undeposited Funds (or Payments to deposit) account is meant to be a temporary holding account that tracks payments received from customers that have not been deposited to your client’s bank account. Its main purpose is to make reconciliation easier by combining multiple transactions into a single record.
Holding payments in Undeposited Funds groups them together into a single deposit, making it easy for clients to match the bank register with their bank statement.
For example, if your client receives two payments, a check for $100 and another for $200, and deposits those checks, the bank records them as one $300 deposit.
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