Profitability Channel

This is a term that has been a part of QuickBooks(R) terminology for a long time, and I am still asked on a regular basis just what it means. If you use the Invoicing or Sales Receipt features in QuickBooks(R), then you have probably seen this term on your screen. Despite its odd name, this account in QuickBooks(R) is an important part of the Accounts Receivable process and a great tool for accounts who receive multiple payments at a time to deposit. If you've ever spent time trying to reconcile your bank account, only to get frustrated while matching up payments against the deposits listed on your bank statement - then this class is for you! We'll talk about the Accounts Payable cycle in QuickBooks and how it's designed to handle the "flow" of money from your clients to your bank account. We'll also talk about the "Deposits" screen and how to tell if the money in your bank account was recorded properly. We will also show you how the Undeposited Funds account affects your financial statements and what to do if the account is out of balance. And as always, there will be plenty of time to answer your questions.