Let's now take a look at making deposits ot the bank. Following the strategy of keeping your payments into an Undeposited Funds account until the end of the day should help alleviate any problems you may have when trying to match up your books with your bank's invoices. Putting funds into your bank account is a task that should be satisfying and, hopefully, free from complications.

There are various reasons to do either, and we'll cover each in detail. We'll also look into making credits and giving refunds. In this lesson, one of the main topics we will be learning about is making those deposits to your bank account. So, when making a bank deposit, you will be taking multiple payments that you have received during the day and combine them into a single deposit. That makes it easier to keep track of which payments went into which back deposit when you receive invoices from your bank each month. For bookkeeping purposes, it is better to accumulate payments and then deposit them at once, such as at the end of the day. When payments go into the Undeposited Funds account, they are not immediately put into your bank account. When those payments are recorded in QuickBooks Online, they go into an account called Undeposited Funds. You may be receiving multiple smaller payments per day, or just occasional larger payments every few days or so. As a business, you should be receiving regular payments from customers.