I cannot find the undeposited funds account in the chart of accounts.
It really depends on how your company file was originally set up. It’s possible you may have to add it to the file. It doesn’t always come by as default account. If it’s not in the chart of accounts, create a new one. Follow these steps:
Left Dashboard > Accounting > New button at the top right corner.
Account Type = Other Current Assets
Detail Type = Undeposited Funds (must select this)
Name = Undeposited Funds
Description = Undeposited Funds
Sub-account = Don’t select sub-account
Balance = Leave it blank. Don’t enter any amount.
The hottest deals, coupons, clearance, and sales on the internet!
Quickest, easiest expense reporting tool
TSheets is a time tracking and employee scheduling app for companies needing to track, manage, and report time. Click HERE for Free 14-Day Trial!