When a customer deposit is recorded using the Make Deposits window, behind the screen QuickBooks converts the transactions into a journal entry that:

Debits checking account, Credits undeposited funds

Explanation:

QuickBooks is a very popular Accounting Software that is mostly used by Small to Medium Enterprises to keep their books in order.

When a customer makes a payment from a customer, QuickBooks sends this to the Undeposited Funds account and debits it. When you then use the Make Deposits window to record the deposit, the corresponding amount is taken from the Undeposited Funds account by way of a credit. It is then debited to your Checking Account (Bank account).

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