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The tutorial explains how to create a sales receipt in QuickBooks and utilize the undeposited funds account for grouping transactions into a single deposit. If a customer pays immediately, a sales receipt is recorded; for later payments, an invoice is created, which is covered in another video. To create a sales receipt, access the new menu and select "sales receipt." Customer information is optional, but entering it allows for sales tracking by customer. The default date is today but can be changed. When selecting a payment method, options include adding a new payment type or processing a credit card payment through QuickBooks Payments. For this tutorial, cash is chosen, but there's an option to record a check number if applicable.