If Undeposited Funds was selected during Receive Payment,then which of the following is true?
A)A company does not need to create a bank deposit since the funds are already available to pay bills.
B)A company must create a bank deposit to transfer the funds from the Undeposited Funds account to the appropriate bank account.
C)Undeposited Funds are used with Bundles and the company must separate out the different payments prior to creating a bank deposit.
D)Use the Gear Icon and select Bank Deposit under Other to record the transfer.

Question

Quizplus · Accepted Answer

If Undeposited Funds was selected during Receive Payment, the funds are initially deposited into the Undeposited Funds account. A company must create a bank deposit to transfer the funds from the Undeposited Funds account to the appropriate bank account.

If Undeposited Funds Was Selected During Receive Payment,then Which of the Following