QB Issue Resolution:

You did not set that up. It is a default acct.  And you cannot create a second one that will work. Use the one you have.

When you receive a customer payment and have it deposit into that acct, the next step is to go to +bank deposit to clear undeposited funds and deposit the $ into the bank acct. That is the step you are missing.

Resolution for Issue 'How do I create a new Undeposited Funds account? Somehow I setup my Undeposited Funds Account with the detail type of “Other Current Asset”. Thus, when I deposited checks into the Undeposited Funds account, the checks weren’t showing up in the Bank Deposit window. When I try and edit the COA details to make the detail type Undeposited Funds, or if I try and create a new COA entry as an Undeposited Funds account, I recieve this error message : “Something’s not quite right You cannot change the detail type of an account to be Undeposited Funds or change an Undeposited Funds detail type account to be another detail type.” How can I get around this?' available: Yes (Solved).
Source: Intuit Community forum.

How do I create a new Undeposited Funds account? Somehow I setup my Undeposited Funds Account with the detail type of “Other Current Asset”. Thus, when I deposited checks into the Undeposited Funds account, the checks weren’t showing up in the Bank Deposit window. When I try and edit the COA details to make the detail type Undeposited Funds, or if I try and create a new COA entry as an Undeposited Funds account, I recieve this error message : “Something’s not quite right You cannot change the detail type of an account to be Undeposited Funds or change an Undeposited Funds detail type account to be another detail type.” How can I get around this?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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