 that I have these two deposits that add up to the amount that is in the undeposited funds or funds to be deposited, and we can deposit them at one time. So let's do this now. We're gonna deposit it into the checking account. We're gonna say it's the end of the day. So now we're imagining that we got the money during the day. We're imagining their cash money, even though it's way too much for normal cash transactions, but we're gonna say we have the money. But when we go to the bank, we're gonna deposit it in one lump sum. And this would be similar to what a credit card does. The credit card company would compile the money for a certain time period and then deposit it not one at a time into your checking account, but in one lump sum. So we can imagine that as a similar process to us physically collecting cash and then depositing it into the bank as one lump sum. So this is also why we would want to use the deposit form as opposed to the shortcut ways to make a deposit form, which would include possibly the bank feeds directly or the check register. Why? Because this deposit form has this section here which allows you to combine these payments. So now we see these two payments that we can combine if there were sales receipts, meaning sales that are happened like at a check register. Those are also things that would populate in here. And that again, that 34, 72, 50 is what is on the balance sheet in the clearing account. So if it was all cash, then we're gonna go in, we're gonna deposit it in cash. If we had multiple different kinds of payments here, note that you might, because we might have a system where we take all of the types of payments and put them through the clearing account. So in here, all the ones that are cash, we would combine together because we would deposit them at the end of the day as one lump sum. And then we would combine a different ones if they were credit cards. We would combine them together in accordance with what matches the credit card combination system. And if they were electronic transfers, then we might deposit those one at a time because they might hit our bank in exactly the same dollar amount that we received the payments for. So we're gonna group them in accordance to the way that we're gonna put them into the bank so they hit the bank in the same format as will be seen on the bank side of things which we will have to deal with when we reconcile possibly with the help in the use of the bank feeds. Remember, if there are any fees, if it was a credit card and they charge you fees, then you're gonna say, well, now I have something less than 34.72.50 because the credit card company took out fees before they put it into my checking account. Well, you can put the fees down here simply directly as an account. So it would be like bank charge fees and then you're gonna reduce the amount. You might need a negative number here, right? To reduce the amount. You're gonna say, well, they charge me $50 and then so the total, if I tag these two off, then would go down, right? So there's 34.72 minus 50.34.22. Okay, so that's the general idea but we're not gonna have any fees. We're gonna deposit both of them in place. What's this gonna do? Well, it's a deposit form. The deposit form clearly means that the checking account is gonna go up typically if that's what we assigned it to. But if you're using this top half of the deposit form and not the bottom half of the deposit form, it also means that the clearing account is gonna go down. And when I use a physical deposit form, that's what I'm doing. So that's what I'm thinking in my mind. When I'm gonna open the deposit form, I'm decreasing the undeposited funds account. Otherwise, if it was some other kind of deposit, like from me or a loan, then I would use the bank feeds, the shortened deposit form, or the register, which would still create a deposit form. But when I do the data input, I'll usually use the shortened form and only use this form when I have this issue of taking money out of the undeposited funds or funds to be deposited. Let's save and close it and look at that one. Let's go to the balance sheet. Now we can go into the checking account. Now we have the money. The money has finally arrived. There's the deposit. It's in there as one lump sum, which is what we want because that's what's gonna appear in the bank account. That's what we can match with the bank feeds. That's what we can see in the bank reconciliation. Going back, we can see it in our online checking account. Match it out. We don't have to tie anything together, add up numbers, do anything funky. If you're doing funky stuff in the bank rec or bank feeds, then you probably don't have a good system here. This is back down to zero, payments to deposit. That's fine. I could still drill down, see the detail and we can see that the deposits are here. So it's going out here on the 25th. I believe these are the two there. And this is one at a time. So we can see them going in and going out. We can tick and tie them off. We can see the increases. We can see the decreases and the payments are gonna be the increases or the sales receipt forms also increases. And then the deposits in this case are decreasing because we're taking them out of undeposited funds or funds to be deposited and putting them in the checking account. Okay, let's check out the trial balance and see where we stand. So here's the balance sheet. This is where we stand on the balance sheet. Nothing happened to the income statement. We just collected some money. There was already an asset. We got one asset and we got a better asset, right? There was people owed us money and now we receive the money. Accounts receivable went down and then the cash went up. And then we're gonna go into our trial balance. So we can check it all out in one place. If your trustee TB trial balance ties out to ours, great. If not, try changing the date increase in the date range. See if it is a date issue. Drill down to the source document. If it is possibly changed the date, which is a great thing to be able to do in a practice problem, but you gotta be careful with it actually in practice. All right, remember that the trial balance is just a balance sheet on top of the income statement. Cash is an asset account. Accounts receivables, an asset account. Inventories, an asset account. Investments, asset account. Payments to deposit, asset account. Accumulated depreciation, funny contra asset account, but it's tied intimately to the fixed asset of property, plant, and equipment, furniture, and fixture in our case. The accounts payable. This is where the liabilities start. Note that liabilities and equity are basically credits, whereas the assets are basically debits, two sides of the same corn, what the company has for the assets, who has claimed to those for the liabilities and equity. Liabilities, third party claims, like the vendors, the financial institution of the credit card company, the tax, the government, and then the bank with the loan payable, and then we have claimed to some of our own assets as well represented by equity in the format of our investment account, our owner's equity account, like retained earnings, and then the whole income statement can be squished together in one number, which would be part of retained earnings, but it's currently being broken out here, telling the story, not of the life of the business, but just the last year of the business. Otherwise, it would be too long of a story and nobody would want to listen to it if we told the whole story. Be like a 40-hour movie or something. So that ties out to 14, 8, 15. That's what's on the income statement. And then if I was to move it up a bit, these numbers will roll into equity. Let's just show you how that works. 77896, if we add that, it should be 92711. If I bring this up a year, 010125 to 123125, we run it to refresh it, and then we get the 92711. It's been closed out. QuickBooks does the closing process automatically, but only on a yearly basis, not on a monthly basis. That can cause a bit of confusion and I'm saving you the trouble of being confused by telling you about it now.