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How To Track Undeposited Funds

Overview

An explanation of how to track undeposited funds.

How to Track Undeposited Funds

  1. Create a new bookkeeping account called "Undeposited Funds"
    1. The following tutorial explains how to create a bookkeeping account. http://app1.studiocloud.com/support/index.php?/article/AA-00520/0/How-to-CreateEdit-Bookkeeping-Accounts.html
  2. Verify that the auto-transfer is setup to go to the Undepositied Funds Account.
    1. Note: This only applies if you are using the auto-transfer option.
    2. The following tutorial explains how to do that. http://app1.studiocloud.com/support/index.php?/article/AA-00226/0/POS-and-Bookkeeping-Integration.html

How to Track When The Funds Are Deposited

  1. There are two options that can be done to track when funds are deposited
    1. Option 1: Edit each of the ledger entries in the transfer funds account reassign them to have the bookkeeping account where the funds are deposited.
      1. This tutorial explains how to edit the ledger entries. http://app1.studiocloud.com/support/index.php?/article/AA-00585/95/
    2. Option 2: Add a transfer from the undeposited funds account to the bookkeeping account where the funds were deposited.
      1. This tutorial explains how to do a transfer from one bookkeeping account to another. http://app1.studiocloud.com/support/index.php?/article/AA-00589/95/