![]() During the interim, the amount will be in undeposited funds. The problem occurs when the money is entered one day and the deposit is made on a different day. The total of this deposit slip should agree with the bank statement at the end of the period. At that point, the make deposit function is completed in QuickBooks to pull the undeposited funds onto a deposit slip. ![]() At the end of the day, the drawer is opened and money is scooped up and taken to the bank. As the money comes in each day, it is entered into the computer, and placed in the top desk drawer. The easiest way to picture this account is as the top desk drawer. Undeposited Funds is a special account created by QuickBooks as a clearing account for payments that have been received but not yet deposited into the bank account. By admin Undeposited Funds on Balance Sheet
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