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What's this Undeposited Funds thing on the Balance Sheet...

An amount showing in "Undeposited Funds" may not make sense at first. This account is used to "hold" the funds received until the actual deposit is made into the bank account. Once the deposit is made and booked into QBO, the "Undeposited Funds" amount gets credited and cash gets the debit.


Hope this helps.


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