Undeposited funds is meant to act as a report for all the cash and check payments that you have yet to deposit physically in the bank.
To look for any undeposited funds, e.g. (cash or checks), follow these steps:
Note: Credit card payments and wire transfers will not show up here as they are already in your bank account.
1) Click on the plus sign and select "Bank Deposits" under "Other".
2) This is your bank deposit page that you can print out and bring to your bank alongside your cash and checks that you've collected over time.