how to delete deposit in quickbooks

How To Delete a Deposit in QuickBooks

, May 13, 2021 May 10, 2021

QuickBooks is well known across the globe for its highly advanced yet user-friendly platform. However, if you are a new user, you may find some of the features a bit complicated to start with. The QuickBooks Delete Deposit is one such feature. But, you have nothing to worry when we are around! In this blog, we are going to explain the QuickBooks Delete Deposit feature in details. Make sure to go through this blog till the end.

Simple Steps to Delete a Deposit in QuickBooks Desktop

If you have decided to delete a deposit within the register itself, you will see the 'Delete Deposit' option in the 'Edit' toolbar. However, if multiple payments are included in one deposit, you will need to open that particular transaction and delete the entry by using the 'Delete Line' option only.

Please follow the steps given below to do a Quickbooks Delete Deposit-

Firstly, go to the menu bar on the top and click on 'Lists'.
Then click the icon named 'chart of accounts'
Double-click on 'Account'.
Double-click on 'Deposit'.
If you want to delete a specific payment entry, you will need to select the same from the list as shown below-

Click on 'Edit'tab placed on the menu bar at the top of your screen
Click the 'Delete Line' option
If you wish to delete the entire deposit, click the 'Delete Deposit' option

Delete-a-Deposit-in-QuickBooks-Desktop-Screenshot

A dialog box will appear on your screen, asking you if you are sure of deleting the transaction. Click 'OK' to delete the transaction.

How to Delete a Payment in QuickBooks

Sometimes it may happen that you may decide not to accept a payment. In this case, you can delete the particular payment completely from QuickBooks. Here are the steps to do so-
Go to the QuickBooks home page and click on 'Record Deposits'
The 'Payment to Deposit' window will appear on your screen. Click on 'Cancel' to proceed.
Next, locate the particular deposit you wish to delete.
Finally, go to the 'Edit' menu and click the 'Delete Deposit' tab. A dialog box will appear on your screen, asking you if you are sure of deleting the payment. Click 'OK' to delete.

How To Delete Duplicate Payments In QuickBooks

Sometimes, you may accidently add the payment from a customer twice and it may cause the issue of duplicate entry in QuickBooks. The following steps would help you to delete duplicate payment entries-

Go to the QuickBooks desktop icon and open the Company File.
Next, click on the 'Banking Menu' and click on the 'Make a Deposit' tab.
Now, select the part from where you wish to delete duplicate payments and click 'Edit'.
From the drop-down menu, click 'Delete Line'.
Click on the tab named'Save for Changes'.
Now visit 'List' menu and then click the 'chart of Accounts' tab

Then you have to double-click the 'Undeposited Funds' icon. The Bank Account Register will appear on your screen.
Finally, click on the duplicate payment you need to delete. Then go to the 'Edit' tab and click 'Delete Payment'. A dialog box will appear on your screen, asking you if you are sure of deleting the payment. Click 'OK' to delete.

How To Delete Undeposited Funds In QuickBooks?

In the QuickBooks application, all payments can be divided into the following categories-

Deposited payments
Undeposited payments

The undeposited funds keeps a track of remaining customer payments till the same are paid. Here are the steps of deleting undeposited funds in QuickBooks

Firstly, go to the menu bar on the top and click on 'Lists'.
Then click the icon named 'chart of accounts'
Next, double-click on the 'Undeposited Funds' tab.
Next, locate and click on the deposit you wish to delete.
Finally, go to the 'Edit' menu and click the 'Delete Payment' tab.
A dialog box will appear on your screen, asking you if you are sure of deleting the payment. Click 'OK' to delete.

QuickBooks has been no less than a boon for small and medium businesses. The business owners are helped immensely by the advanced features of this accounting software. No wonder why it has been a craze these days and more and more businesses are using it as a tool to enhance business efficiency. Hope you are one of them and the above-mentioned details would help you do QuickBooks Delete Deposit in multiple ways. Hope it would make your work much simpler. But, do remember that there is a difference between a deposit and a direct deposit. Do not get confused while you cancel a direct deposit and reverse a deposit in QuickBooks. Do reach out to us in case you have any doubt.

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