What is the first step in QuickBooks Online before recording a deposit for received checks?

The first step in QuickBooks Online before recording a deposit for received checks is to navigate to the option to receive payments. This step is crucial because it allows you to accurately track and apply the payments against the appropriate customer invoices before formally depositing the funds into your bank. By selecting to receive a payment, you ensure that the payment is correctly associated with the customer and reflects any outstanding invoices.

This process lays the groundwork for an accurate financial overview since it integrates customer payments with your accounts receivable. Once the payments are received and applied, you can then proceed to record the deposit, making it a sequential process. Thus, the choice to start with receiving payments aligns perfectly with best practices in managing cash flow and maintaining accurate records in QuickBooks Online.