QuickBooks Online automatically creates an account called Undeposited Funds. The Undeposited Funds account holds customer payments in QuickBooks until you deposit them at your real-life bank. Once you have your deposit slip, you can combine these payments into a single record so QuickBooks matches your bank records.
It’s good to periodically check your Undeposited Funds account to clear out any payments waiting to be deposited. To review your Undeposited Funds account, follow these steps:
1. Go to the Accounting menu.
2. Select Chart of accounts.
3. Find Undeposited Funds on the list.
4. Select Account history.