Meaningful transactions data leads to better business decisions. No matter which industry your business operates, we help small business owners and medium-sized companies to understand their business Books in QuickBooks while delivering high-quality Management transactions Reports that reveal business performance and guide good decision making for business growth. It is very common for clients to misunderstand how to use the Undeposited Funds account in QuickBooks. Incorrectly using this account in QuickBooks may result in overstated income, which could lead to incorrect financial recording for your business and even paying higher taxes.
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We guide our clients on how to properly record transactions in this account. For example, money coming in from customers at payments on invoice or point-of-sales (sales receipts) must always to be deposited in the Undeposited Funds account.