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Hi, I have an undeposited funds account and I used some of that cash that has not yet been deposited into the bank for business expenses. How would I make that entry so that it lowers the undeposited funds account? Thank you
I'm here to help you record those transactions so it will lower your Undeposited Funds account, @Lucy2022.
You can create an expense transaction for the cash you've used for your business. Then use the Undeposited Funds account as a source account so it will lower the balance.
Here's how:
See this article for more information: Enter and manage expenses in QuickBooks Online.
I've also included these articles that explain when to enter a transaction and how to customise your sales forms:
We're just here in the Community if you need anything else. Have a great day, @Lucy.
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