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When you receive payments on your sent invoices from the customers in the Undeposited funds account, then in the next step, you will have to deposit this payment into an account in QuickBooks. This can be done with the help of the Bank deposits feature which will let you create the Group payment for all the payments received in the undeposited fund account and you can create a deposit for them as a single record into an account in QuickBooks.
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Sometimes as it happens you may have to delete these deposits due to some error or issues. You can do so by using the Edit toolbar, we will look into the process steps in detail under the next section.
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How to a Delete Deposits in QuickBooks
Sometimes it happens that while adding the deposit we made a mistake so in order to deal with that mistake you have to delete.
Deleting of the deposit from the QuickBooks doesn’t mean that you lose that deposited amount because you will get the payment back once you delete it from QuickBooks.
The payment which is deposited by the individuals in the bank is known as the deposit payments. Sometimes we need to delete the deposit from the QuickBooks. There are three main reasons for deleting the deposits, they are:
- The checks which are added to the deposit is incorrect.
- There is the duplicity of the deposit.
- The deposit is added to the wrong customer.
How to Deleting of the Deposit in QuickBooks
Follow the following steps in order to delete the deposit from QuickBooks:
- First login to your QuickBooks account with the help of login id and password.
- Navigate to the Lists tab from the menu and click on the Chart of Accounts option from the dropdown of list.
- Select the Account tab by double clicking on it.
- Double click on the Deposit tab in order to open it.
- Now search for the payment which you want to delete from the list in order to delete that payment.
- Now you have to click on Edit tab and then Delete.
- In order if you want to delete the complete deposit then you have to select the Delete Deposit option.
Deleting a Deposit in QuickBooks Desktop
In order to delete the deposit in QuickBooks Desktop you have to follow the following steps:
1. Choose Check Register:
- First open the QuickBooks account by log in with your ID and Password.
- Go to the Banking tab and click on it in order to go to the Check Register.
- Once the Register opens now you can easily Use it.
2. Search for the Deposit You want to Delete
- Now click on the Account tab in order to select the bank account in which the incorrect amount is deposited.
- Navigate to the Check Register and find for the deposit which you want to delete.
3. Delete or Void the Deposit
- Once you select the deposit which you want to delete the delete screen will appear.
- In order to delete the deposit, click on the Edit menu from the top of the screen.
- Now from edit window click on the Delete Deposit button in order to delete the deposit.
Deleting a Deposit in QuickBooks Online
In order to delete the deposit from the QuickBooks online follow the following steps:
- Navigate to the invoicing by opening the QuickBooks online dashboard and click on the left menu then to invoice.
- Navigate to the Customer tab and select the account of the customer i.e Customer Account option from the list of options.
- From the customer account select the Transaction which you want to delete.
- If you want to view more transaction hit the More buttons in order to Delete that particular transaction.
How to Undo a Bank Deposit in QuickBooks Online & Desktop
Sometime the deposit is deleted by mistake but in that case doesn’t work you can easily undo that deposit in QuickBooks Desktop and online by just following the steps:
- On the QuickBooks Homepage navigate to the Record Deposit icon.
- Now select the Banking option from the menu and then select the Make Deposits option from the list.
- In case if the payment to deposit window opens then click on then click on cancel tab in order to Cancel it.
- In order to find your deposit, click on the Previous tab in order to delete that transaction.
- Once you are done with the searching of the deposit which you want to delete so now click on the edit menu.
- From the Edit menu window click on the Delete Deposit tab in order to delete that deposit from the list.
How to Delete a Payment in QuickBooks Online
In order to delete the payment from the QuickBooks online you have to follow the following procedure of steps:
- Open your QuickBooks online by log in with your QuickBooks user ID and Password.
- Now click on the Customer tab from the menu.
- From the list of Customers, you have to choose the customer whose payment you want to delete.
- Now the list of payments will be displayed in front of you so just select one of the payments which you want to delete.
- In order to view More Payments, hit the more buttons.
- Now select the payment which you want to delete by clicking on the Delete button.
How to Delete a Duplicate Payment in QuickBooks
In case if the payment is added twice in the account, then it can create problem or error if you. So in order if you want that the error will not arise due to duplicity so just delete it by following the steps:
- Open the QuickBooks in order to follow the following steps:
- Navigate to the Company File and hit the click on it in order to open it.
- Once the company files open, choose the Banking option from the menu.
- Now select the Make Deposit tab from all the option.
- Now select the line which had duplicity in it.
- Now click on the Edit button in order to Delete the Line with duplicity.
- Click on the Save button in order to save all the changes which you have done.
- Navigate to the List tab from the top menu and then click on the Chart of Accounts from the list.
- In order to open the bank account register, navigate to the Undeposited Funds and hit the double click on it.
- Search for the Duplicate Payment and select it in order to delete it.
- Now the final step is to delete the selected duplicate line by clicking on the Delete Payment button.
How to Delete the Incorrect Deposit in QuickBooks?
Follow the following steps in order to delete the incorrect deposit:
- Open your QuickBooks Account in order to select the list from the top of the menu.
- Now select the Chart of Account in order to open the List of account and select the Account from which you want to delete.
- Search for your desire account and open it.
- Press the Ctrl + D together from the keyboard and press OK button.
- The pop-up window will open in front of you and hit the OK button in order to delete it.
In case if any error arise while deleting the deposit then you need to call the QuickBooks professionals in order to have their help. They will help you and assist you to resolve that error which you are facing while deleting the transaction or payment from the QuickBooks.
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+1-347-428-6831 or chat with experts.
Frequently Asked Questions (Faqs)
How Can I see a Detailed Deposit Report in QuickBooks Online?
You need to go to the ‘Reports‘ and type ‘Deposit detail‘ in the ‘Find Report by name‘ field. Now specify the reporting period and click on Run report.
What will Happen once I Delete the Deposit from the QuickBooks?
Once you delete the deposit, the payments are reverted to the undeposited fund account. That means you will have to create anew deposit for the again.
How can I clean-up undeposited funds in QuickBooks?
You need to go to the lists > Chart of Accounts > double-click on undeposited funds and double-click on the journal entry to open it and finally you can delete it by pressing control +D on your keyboard.
How can I Change or Correct the Deposit in QuickBooks?
Click on the plus icon from the top menu and select Bank Deposit that you wish to edit, now choose the correct account, date, currency, transactions, etc. and click on save and close.
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