In this article, you read how to undo and delete a deposit in QuickBooks (Desktop and Online). Recording your deposits to match your bank statements is essential. Whenever you deposit funds into your bank account, the deposits may be amalgamated into one. Make sure to record your deposits in the same manner in which your bank records them.
The Ultimate Guide to Delete a Deposit in QuickBooks Desktop
There are several issues with deleting a deposit on QuickBooks Desktop. The main problems that you’ll encounter are as follows:
- Issue 1 – Delete cash sale from the deposit before deleting/editing its information
- Issue 2 – Editing payment info of a deposit isn’t allowed
If you have multiple payments packed into a single deposit, then you’ll have to select the option to Delete Line; however, if you select a deposit present in a register, then you can find the Delete Deposit option on the Edit toolbar. Follow the steps provided below to delete a deposit in QuickBooks Desktop.
- Log into QuickBooks with an admin account.
- From the top menu bar, select Lists
- Select Chart of Accounts
- Select the Account, then Deposit which you want to delete.
- From the top menu bar, select Edit
- Now select Delete Deposit: If you wish to delete the entire deposit.
QuickBooks deletes all the payments attached to a particular deposit if the deposit itself is deleted. For matching payments to new deposits, you will have to download all the payments again from your bank account. You can even download the information about the transaction in the Web Connect format which can be easily imported into QB.
Want to Delete a single item?
- In case you just want to delete a particular payment from a deposit then you can do so by following the path below: Select Banking> Record Deposits> Select Deposit> Click on edit and undo.
Get rid of an item completely!
- If you want to permanently delete a particular payment from the deposit as well as from QB then: Select the payment and hit Delete. By using this option, users can easily undo or delete a recently recorded deposit.
How to Delete a Deposit in QuickBooks Online
QuickBooks online is much more user-friendly than its desktop counterpart. The dashboard provides a brief analysis of accounts and reports, along with the most-used features.
- Go to Invoicing from the Left Menu
- Go to the customer and select the customer account.
- Select the Transaction which you wish to delete.
- From the bottom menu, select More.
- Click on Delete.
Tips and Tricks for Delete Deposited Payment in QuickBooks
If you wish to delete or undo deposit payments in QuickBooks, first you’ll have to delete the payment from the deposits. The steps to do the same are provided below.
- From the top menu bar, select Lists
- Select Chart of Accounts
- Select the Account, then Deposit which you want to delete
- From the top menu bar, select Edit
- Now select:
- Delete Deposit: If you wish to delete the entire deposit.
- Delete Line: If you wish to delete a single payment from the deposit.
Once you’ve deleted the payment from the deposit, you can delete the payment without any hassle.
It is highly recommended that you don’t delete any transactions or payments that were included in the reconciliation statements. You can also delete bills and expenses in the same way with QuickBooks online. Chart of Accounts is another feature that enables you to navigate to different transactions that you may want to delete. The delete option will be provided along with the information for the transaction.
If need any experts to help and consult contact the QuickBooks consultant team 24/7.
