Laura asked 10 months ago
I entered daily sales receipt and it created a deposit for full amount $833.89. The daily receipt deposit consists of merchant credit card deposit and a cash deposit. How do I reconcile my bank statement if the merchant credit card deposit is still in transit and only the cash hit the statement?
Your Answer
On Sales Receipt, you should use the “deposit to Undeposited Funds” account, instead of direct bank account And make a bank deposit when it shows up in the bank account. (Create “+” sign > Other > Bank Deposit).
You can refer to this helpful article for detailed information:
http://newqbo.com/recording-daily-sales/