Deposits vs Undeposited Funds

Record deposits is the same thing as Make Deposits.

Undeposited funds is a different feature.

If you received several payments and then deposit them this is a great feature because each time you enter payment from a Customer the payment goes to the Undeposited Funds account and then when you actually post the deposit it will match the total deposit on your bank statement when you reconcile.
If you  wish to  "turn off" or "turn on" this feature  go to

1. Edit>Preferences>Payments>Uncheck or check "Use Undeposited Funds as default deposit to account.

2. If unchecked the next time you receive a payment from a Customer there will be a box to the right that says "Deposit to"

3. Choose the account you wish and it will be the default the next time.

4. If you have it checked your Customer Payments automatically post to the Undeposited Funds and then you go to Banking>Make Deposits when you are ready to post the deposit

If you always deposit one check at a time from Customers this will work for you.  The Undeposited Funds can be chosen in the drop down also if you want to post the payment there and deposit it later with other payments.

Keep us posted,
Thanks!
Lori Schwarz

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