Hi there, Joe2021.

I appreciate all the details and feedback on how we handle the Undeposited Funds account. 

In QuickBooks, we follow and use the Undeposited Funds account to hold invoice payments and sales receipts. It’s a detailed type of account under Other Current Assets that are likely to be converted to cash. 

I'm willing to listen if you have other concerns about the features in QuickBooks Online. Just tag me in your comments below and I'll be there to help you out.