QuickBooks – Undeposited Funds

Filed in Accounting, Business, Intuit QuickBooks by on April 20, 2013

Some say that your Undeposited Funds account should always be zero. This is an overly absolute statement.

In QuickBooks 2013, you can start by changing your top menu Edit, Preferences, Payments Company Preferences, to Use Undeposited Funds as a default deposit account. You can then receive customer payemts today and not deposit them until tomorrow or later. However, this account should be zero after you make this deposit. 

 

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