You certainly don’t need to use the Undeposited Funds account if you have the correct Bank on your QuickBooks Online already. When it comes to matching transactions this something you do not necessarily need to do however this can be handy for when you are reconciling your accounts.
Resolution for 'BACS issue: 'Receiving invoiced payments paid with BACS' available: Yes.
The BACS 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 BACS issue yourself by looking for a resolution described in the article. If it is a complex BACS issue or you are unable to solve the issue, you may contact us by clicking here or by using other BACS support options.
For more information about resolving issues related to BACS in Quickbooks/QBO or to get support for the issue 'Receiving invoiced payments paid with BACS', click the link below: