Define: Undeposited Funds

UK Accounting Glossary

Definition: Undeposited Funds


Quick Summary of Undeposited Funds


Payments that have been received by cash, cheque, or credit card that have yet to be paid into the bank.



What is the dictionary definition of Undeposited Funds?

Dictionary Definition



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Full Definition of Undeposited Funds



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Undeposited Funds FAQ's


Are undeposited funds a debit or credit?

When a customer’s cheque is received as a payment it is a credit to Accounts Receivable (as a reduction of that account), and as a debit for Undeposited Funds (an increase in that account-which is a holding account until the deposit is made). The funds are then transferred to the bank account by way of a deposit.


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https://payrollheaven.com/define/undeposited-funds/
Modern Language Association (MLA):
Undeposited Funds. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 20, 2019 https://payrollheaven.com/define/undeposited-funds/.
Chicago Manual of Style (CMS):
Undeposited Funds. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/undeposited-funds/ (accessed: September 20, 2019).
American Psychological Association (APA):
Undeposited Funds. PayrollHeaven.com. Retrieved September 20, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/undeposited-funds/

Definition Sources


Definitions for Undeposited Funds are sourced/syndicated from:


This glossary post was last updated: 26th December 2018.