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NSC | Using Undeposited Funds account in Customer Payments and Deposits
Using the Undeposited Funds account can be beneficial for users who want to keep track of when the customer payment was made and when the amount was actually deposited in the bank.
Here's a table so you can have a better understanding of its use:
Scenario 1:
In here, the Customer Payment will be recorded in the Undeposited Funds account once received from the customer. When it's deposited in the bank a Deposit transaction will be made where the undeposited funds will be offset and the amount will be debited to the bank account.
The dates in the Customer Payment and
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