QuickBooks is an accounting software loaded with advanced features. Small and medium-sized business proprietors across the globe trust it to maintain their business easily and meet their financial goals. While it’s incredibly easy to use, there are a couple of features that are somewhat complicated. Deleting a deposit in QuickBooks is one such feature and we are going to explain the same here in this article. In the event that you make an off-base payment or an unnecessary payment, you can delete the deposit assets to stay with your’s books right.
How about we start by understanding payment categories in QuickBooks. QuickBooks payments are split into two divisions i.e, Deposited payments and undeposited funds.
The deposited payments hold the individual payments and deposits into the bank, and the subsequent one, the undeposited payment holds the small payment that you get all through the same day.
These steps will assist you with understanding the right strategy for removing deposits in QuickBooks. In the event that you are looking for how would I delete the deposit in QuickBooks, at that point the below steps will help you:
- At the very first, go to the lists and look for the chart of accounts icon.
- Next, you need to double-click on the account and also double-click on the deposit.
- If you need to delete a specific payment, then you have to select it from the list.
- Next, click on the edit tab and click on the delete line.
- At last, select the delete deposit in case there is a need to delete the complete deposit.
Steps to undo a Payment from deposit in QuickBooks
You can follow the below-mentioned steps to remove a payment from a deposit in QuickBooks:
- Go to QuickBooks Homepage and open Record Deposit
- Select Banking menu and the Make Deposits
- Tap on Cancel if the window for Payments to Deposit opens
- Choose Previous to browse through the transactions till you locate the payment or deposit that has to be deleted.
- Tap on Edit menu and then select Delete Deposit to remove the deposit in QuickBooks.
Steps to Remove Duplicate Payments in QuickBooks
Duplicate payments show up in QuickBooks when by mistake you enter the payment twice if coincidentally you may have entered the payment more than once. Follow the below-referenced steps to easily delete duplicate payments in QuickBooks.
- Click on the QuickBooks icon desktop and select the company file.
- After your company file opens on your computer screen, go to the Banking menu and select Make a Deposit from options on the screen.
- Choose the part that has to be deleted and then choose Edit.
- Next, hit edit Delete Line from the drop-down menu.
- Click Save for changes to get applied.
- Now, move to the List menu and select Chart of Accounts.
- Double-click on the undeposited funds and the bank account register will open.
- Finally, click on the duplicate payment that has to be deleted and use the Edit tab to Delete Payment.
Steps to Delete or Undo Deposited Payment in QuickBooks
- Open QuickBooks and tap on the Record Deposits icon available under the Banking tab on the dashboard.
- Wait for the Payments to Deposit window to appear and then click Cancel under the Make Deposits View section.
- I order to delete payments in QuickBooks, click on the particular deposit. If you are unable to find it, click Previous and find a specific entry.
- Go to the Edit menu and press Delete Deposit.
- A warning message will appear, press OK to confirm the action.
Follow the below-mentioned steps to remove a payment from un-deposited funds in QuickBooks.
Delete or Undo a Payment from Undeposited Funds
- Go to QuickBooks and select Lists
- Choose Chart of Accounts.
- Select un-deposited funds from the drop-down list
- Do a right-click on Amount to be deleted and click Delete Deposit in the available options.
- Press OK for confirming the action
Delete or Undo a Payment in QuickBooks Online
If you are using QuickBooks Online, follow the below-mentioned steps to delete a payment.
- Open QuickBooks Online, go to Customers menu and select the particular customer.
- Wait for the payments to be displayed and select the payment to delete.
- On the payments window, click More and then Delete.
You have got the idea that, how to delete and undo a deposit in QuickBooks. However, never forget that deposit, and direct deposit is not the same, so don’t be confounded while canceling direct deposit, and reversing deposit in QuickBooks. I hope this article will assist you with learning how to delete a deposit in QuickBooks Online and Desktop. After the above guidelines, in the event that you actually facing any kind of issue with the same topic or any other issue related to QuickBooks, please go ahead and contact Bigxperts Team.