There is an invalid reference to QuickBooks Deposit To Account

Description of Error:

When attempting to post an invoice to QuickBooks with a payment tendered, the following error message may appear:

There is an invalid reference to QuickBooks Deposit To Account "XXXXX-XXXXXXXXXX" in the ReceivePayment. QuickBooks error message:
Account to deposit to must be a bank or other current asset account.

Cause of Error:

QuickBooks will only accept payments that are posted to an asset account like Undeposited Funds or a bank account. If any other type of account is being affected by the payment, QuickBooks will return this error.

Resolution:

Within ESC go to Receivables→Payment Methods and verify that the type field for each payment has a correct asset account associated to it. To change the type, click on the payment method to change, press the Edit button, change the type and save.