Finance management in QuickBooks includes several tasks when deleting errant deposits is needed. For instance, when restoring the checks in the deposits, duplicate deposits are inserted with wrong figures or customer names. Deletion or voiding deposits in QuickBooks is a straightforward process if the relevant resources are utilized. There is an easy method available for QuickBooks Desktop Pro, QuickBooks Enterprise, QuickBooks Desktop Premier, or QuickBooks Desktop Accountant.
With the team of AccountsPro, you have already learned about the QuickBooks Delete Bill process. Now, it’s time to learn the step-by-step procedure of how to delete or void a deposit in QuickBooks.
Table of Contents
What are Deposits in QuickBooks Desktop?
QuickBooks supports different types of payments, like un-deposited money and deposited payments. Deposit payments store both the specific payments & deposits in the bank, whereas un-deposit payments contain day-to-day small payments. When processing bank deposits, you frequently deposit payments using multiple sources in batches. The bank records the deposits as a single record.
It’s important for each business to Reconcile QuickBooks on regular intervals to know about which payments received and which are unpaid yet.
Why Delete Deposits in QuickBooks Desktop?
You need to delete or undo the deposits in QuickBooks Desktop for multiple reasons. Here are the following factors:
- When creating duplicate deposits
- Embedded the deposit to the incorrect customer
- Wrong checks in the deposit
Find out whenever you go for QuickBooks Delete Account the which types of data need to save and which types of data you need to remove completely.
How to Delete deposit Payments in QuickBooks desktop?
Following is the list of instructions to remove the deposits in QuickBooks effortlessly:
- Locate the lists and search icon named Chart of Accounts
- Next, search the Account and double-click on it
- Hit the Deposit button
- Choose a payment using the list to delete it
- Click on the Edit button; choose the Delete line using the menu named drop-down
- At last, if you need to delete all deposits, then click the “Delete Deposit” option
Also, whenever you go to QuickBooks Charts of Account Setup you have to create multiple deposit options which you can easily Import QuickBooks Charts of Account while going to move to another location.
Deleting a Deposit in QuickBooks Desktop?
Step-wise Instructions to delete in QuickBooks Desktop:
Here are the steps to delete deposits in QuickBooks Desktop:
Locate the check register below the banking option on the window named QuickBooks Desktop. Now use the banking button at the top, and then use Register using the list named drop-down.
Step 2: Go to the deposits you need to remove:
- Choose the bank account with incorrect deposits processed using the drop-down menu named Select Account.
- Next, discover the deposit you need to delete from the check register
- Many times, the deposit triggers from the un-deposited funds; therefore, checks should be deposited into the account named un-deposited funds once they have been set to invoices or sales receipts.
- When the checks have been placed in the bank using the un-deposited fund account, the checks consolidate into one deposit transaction.
- In case of deleting the deposits, then all the checks should be returned to the account named un-deposited funds.
Step 3: Make a deposit and process it void.
Once chosen, the deposit that requires removal would open the deposit window. There does not appear to be a delete button on the page. You need to click on the menu named Edit at the top screen. After this, a hit on the Delete Deposit option. During the deposit deletion, you can see there is a void button. The deposit is completely removed from the deposits once you delete the deposit. But voiding the deposits enables the amount to be zero. However, the transaction status appears as recorded in QuickBooks
Deleting the Deposit payments in QuickBooks Online
For erasing the QuickBooks online deposits, here are the steps:
- Locate the left corner of the QuickBooks online page
- Click the invoicing button
- Hit the drop-down option using the customer account
- Select the transaction you need to delete from the menu drop-down
- Hit “More” using the bottom button by clicking on the option named delete
How to Undo a Bank Deposit in QuickBooks Online and QuickBooks Desktop?
Use the Make Deposit Page button to withdraw a payment using the payment method. Here are the steps:
- Locate the QuickBooks home window
- Hit the option named Record Deposits
- Click the Banking option
- Choose Make Deposits
- In case the window named Payments to Deposit displays, then hit the button named Cancel
- Choose the Previous option to go back using the transaction, till you find the deposit of the payment you need to delete
- Click the option named Delete Deposit
- Locate the Edit button to delete the deposit
Conclusion
That’s all for today! Hopefully, the post helps delete the deposit in QuickBooks. If you need any other assistance, get connected with a professional team at QuickBooks Support Number. Use an email address, phone number, or live chat to reach the professionals.
Frequently Asked Questions
How to void a deposit in QuickBooks?
To void or delete a deposit payment in QuickBooks Desktop, navigate to the Check Register, select the bank account, locate the deposit, and then either delete or void it through the Edit menu. You can also access this through the Chart of Accounts.
What if I need to Delete Payments in QuickBooks Online?
- Open the Customer button
- Click the customer tab in QuickBooks Online
- Once you have seen the payments, discover the one you need to remove and then click on it
- In the payment, at field bottom, hit the More tab by clicking on the button named delete
How would I delete a duplicate Payment In QuickBooks?
If you fill in a payment double mistakenly, then you can delete it by the following steps:
- At first, start the QuickBooks Desktop
- Click the Company file
- Choose the Make Deposits tab using the Banking option
- Click on the line with duplicate payments you need to get rid of
- Hit the Delete line using the Edit option
- Next, hit Save to save all modifications
- Choose the Chart of Accounts below the Lists button
- Locate the option labeled undeposited funds to use the bank account registration
- Choose the duplicate payment you want to delete
- Hit the Edit button, then click Delete Payment
How would I remove/delete Undeposited Funds in QuickBooks?
- At first, locate the main window of QuickBooks
- Choose the Lists button
- Click the Chart of Accounts tab
- If you require a keyboard shortcut, then hit the Ctrl+A button using the console
- Locate un-deposited funds and then double-click on them to display the registered un-deposited funds
- Next, click on the payment you require to delete
- If you fail, then go back using the transaction list and search it using the buttons named Up and Down scroll
- Choose Delete payment and click on the option named Edit
- Hit Ok to delete the field once the warning field
It will only appear on the toolbar named Edit. In case you choose the deposit in the register or if one deposit contains multiple payments, you can access the transaction and then click on the delete line button.
