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The tutorial explains how to create a sales receipt in QuickBooks and how to utilize the undeposited funds account for grouping transactions into a single deposit that aligns with bank records. It clarifies that a sales receipt is for immediate customer payments, while invoices are for later payments, to be covered in a separate video. To create a sales receipt, access the new menu, select sales receipt, and optionally enter customer information to track sales. The sale date defaults to today but can be adjusted. Choose the payment method, with the option to add a new type. For credit card payments, a link is provided for QuickBooks payments. In this example, cash is selected, with the option to record a check number if applicable.