What is the 12010 Legacy Payments account in BillQuick Chart of Accounts screen?
Legacy Payments account is a system account used when payments from the Undeposited Funds account cannot be deposited into your company bank account. Typically, you use it when your historical payments are previously deposited elsewhere and recorded in another software, and now are migrated into BillQuick. In this case, re-depositing payments into your bank account within BillQuick would provide incorrect account balances and so the Legacy Payments account is used instead.
