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When a cart is abandoned by a customer, it is not showing in Not Finalized Folder.
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The Not Finalized Orders functionality from version 3.x has been revamped for inclusion within 4.x.

Instead of only saving abandoned Checkout attempts as Order records, Store Admins are now able to view the contents of all Shopping Carts on their site.

The View Shopping Carts page displays a list of all active carts on the site. The Shopping Cart Details will display the products within an individual shopping cart, checkout step of cart, and customer information if available.

To view these carts, go to Orders >> View Shopping Carts.

Additional Information: View Shopping Carts QuickGuide:
http://kb.monstercommerce.com/support/quickguides/quickguide_view_shopping_cartsI.html
 
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