Quickbooks’ undeposited fund is a kind of container. Where Quickbooks store payments before the bank deposits. Remember your old days when you maintain the register for payment, receive or deposit into a bank. At that time, when we receive any payment then instantly we write in our register. And after that, we deposited into the bank account. Similarly Quickbooks undeposited fund is a piggy bank or register of your firm, where you can deposit payments.
And when you have collected multiple payments through checks. Then you go to the bank and deposited it. But the problem is banks deposits all these checks and show the total amount of your payment in the passbook. And in the future when you match your bank passbook with your firm account then you get trouble to match.
Because you have recorded each payment separately. And your bank has deposits total of all check amount. In such a situation, you can take help of this Quickbooks undeposited fund. Lets see how QuickBooks Support fund helps us, and how to record it.
What is Quickbooks Undeposited Fund
Quickbooks undeposited fund is like a bank bag, where Quickbooks stores all the payment receive of your business in cash, check, credit, and debit cards. In any business, if we sele anything then we generate sales invoices. And instead of the sales invoice business gets payment through checks and cash.