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Preparing a bank deposit

When you record a payment you've received (either via the Receive Money or Receive Payments windows), you have the option to select Undeposited Funds.

Receive Money window with Undeposited Funds option selected

You'd select this option if you're intending to deposit the payment into your bank account later, possibly with other cash or cheque payments you've received. Where you've selected the Undeposited Funds option, the recorded payment is held in a temporary holding account known as an Undeposited Funds account.

You can then use the Prepare Bank Deposit feature when you deposit these payments into your bank account, which clears them from the undeposited funds account.