QB Issue Resolution:
Assuming you are holding the money and not actually sending it to a bank for them, and making it available whenever they want this could be considered just a convenience for them and as long as you don’t go under you should be fine. If there is some written contract you may consider depositing into an interest bearing trust account.
Resolution for Issue 'Should I deposit a Christmas Fund deduction from an employees check into a separate checking account or leave it with my general fund' available: Yes (Solved).
Source: Intuit Community forum.
Should I deposit a Christmas Fund deduction from an employees check into a separate checking account or leave it with my general fund: 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.Support for Christmas Fund
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Error Recovery for Christmas Fund [Canada]
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