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?
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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/