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The tutorial explains how to create a sales receipt in QuickBooks and utilize the undeposited funds account to group transactions for bank deposits. A sales receipt is used when a customer pays immediately, while an invoice is for later payments. To create a sales receipt, navigate to the new menu and select sales receipt. Customer information is optional, but adding it helps track sales by customer. The default date for the sale is today, but it can be modified. Choose the payment method, with an option to add new types. For credit card payments via QuickBooks, a separate link is provided. In this example, cash is selected, but a check payment can also be recorded by noting the check number.