When you record payments into an undeposited funds account, individual cash receipt transactions are recorded in the undeposited funds account -- not directly to your bank or credit card accounts. After you've grouped all of the cash receipts transactions you want, you can then make a bank deposit which can include one or many of the grouped transactions. See Preparing a bank deposit for more information about undeposited funds.
Using this method, a single bank deposit transaction will appear on your bank or credit card statement in place of many cash receipt transactions.
Note: In the Bank Register, the Group with Other Undeposited Funds option isn't available. In the Bank Register, select or enter the undeposited funds account in the Account field.
Note: The Bank Register can't be used to enter MYOB Merchant Account Service transactions
For each Receive Payment transaction you record, a corresponding payment receipt can be printed.