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Chapter 17. Managing Assets > Using a Cash Account

Using a Cash Account

Most cash transactions are managed through your QuickBooks forms. For example, whenever you record a bill payment, your cash account is credited (the balance is reduced) by the amount of the bill.

When you receive a payment from a customer, you have a choice of recording the payment as an immediate deposit, in which your cash balance is debited (the balance is increased) immediately, or you can choose to group the payment with other undeposited funds. If you group the payment with other undeposited funds, the payment is recorded as an asset. Undeposited Funds is the asset name used in the QuickBooks sample companies.


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