Preparing a bank deposit

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Banking > Preparing a bank deposit

Preparing a bank deposit

When you receive payments that you want to deposit in a batch (such as credit card, cash and cheque payments), you need to post the payments to a temporary holding account until you create a bank deposit. This holding account is known as an Undeposited Funds account.

You can post a customer payment to the Undeposited Funds account by selecting the Group with Undeposited Funds option in the Receive Money window or Receive Payments window when recording a payment.

When you make bank deposit in a batch, funds are transferred from the Undeposited Funds account to the account of your choice as a single transaction.

To prepare a bank deposit

■	Receiving money

■	Receiving payments

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