Do you want to know how to delete deposits in QuickBooks? In this article, you will learn the step-by-step procedure to delete deposits in QuickBooks. Sometimes, the deposits are recorded or added incorrectly in the software which requires undoing the deposit without removing it from the company’s payment record. To know this, follow the steps given below in this article for deleting a deposit in QuickBooks.

Reasons for Deleting a Deposit in QuickBooks

You may want to delete deposits in QuickBooks or its other versions for a variety of reasons. A deposit to the software may have been made incorrectly in some cases. Duplicate deposits may have been made in other cases. As a result, it is possible that such deposits will need to be deleted. If you use QuickBooks to manage your business accountants, you will have two options for payment. You may need to delete or undo a deposit in QuickBooks Desktop for a variety of reasons. The following are some of them:

  • Incorrect checks were deposited.
  • The deposit is duplicated.
  • A deposit was made to the wrong customer.

Steps to Delete a Deposit in QuickBooks

For deleting a deposit in QuickBooks to the Edit toolbar and search for the Delete Deposit option. If you want to make multiple payments in one deposit, simply open the transaction and select the Delete Line option. Here’s what you should do:

  • First, and most importantly, click on Lists in the top menu bar.
  • Then, in the next step, select Chart Of Accounts from the drop-down menu.
  • After that, double-tap the Account button.
  • Then select Deposit from the drop-down menu.
  • Simply select the payment you want to delete from the list.
  • Now, select the Edit tab from the top menu bar with a single click.
  • Then choose Delete Line from the drop-down menu.
  • Finally, if you want to delete the entire deposit, select the Delete Deposit option.
  • If you’re asked to delete the transactions, click the OK tab.
  • Finally, for confirmation, click OK.

Steps to Delete a Payment in QuickBooks

You can use the edit menu to delete the payment.

  • From the QuickBooks home page, go to the Record Deposits.
  • Payment to deposit window will appear. Now click on Cancel.
  • Enter the Deposit which you want to cancel.
  • Go to the Edit menu and select Delete Deposit. Finally, select OK to delete the payment.

Steps to Delete a Payment from Deposited Funds

Follow the given steps if you have mistakenly made payment in another account to the customer.

  • Go to the QuickBooks Home Page and open the list menu. Click on Charts of Accounts.
  • Double click on Undeposited Funds.
  • Click on the Payment you want to delete.
  • Open Edit menu, click on delete payment, finally click OK.

Steps to Delete Duplicate Payments in QuickBooks

Here are the steps to be followed for deleting a duplicate payment in QuickBooks.

Open your company file.

  • From the Banking menu, click on Make a Deposit.
  • Select the line where you want to delete the duplicate payment and click on Edit.
  • Select the Delete Line option.
  • Click to Save.
  • Go to Charts of Accounts and double-click on the Undeposited Funds icon.
  • Go to the duplicate payment and select the Delete Payment option.

How to Undo a Deposit in QuickBooks

Let’s see how you can get back your deleted deposited amount.

  • From the QB home page click on the record deposit icon. Click on Make Deposits.
  • Click on the Cancel icon if the payments to deposit windows open up.
  • Go to the Previous icon.
  • Go to the Edit menu and select Delete Deposit.

Steps to Delete Undeposited Funds

Here is the process of deleting undeposited funds :

  • Go to the Lists menu.
  • Click on Charts of Accounts.
  • Double click on the Undeposited Funds.
  • Select the deposit which you want to delete.
  • From the Edit menu, click on Delete Payment.

You can delete a deposit in QuickBooks while preserving the checks included in the deposit to the undeposited funds account. Here they can be edited or completely removed. Whether you are using QuickBooks Desktop Pro, QuickBooks Desktop Premier, QuickBooks Enterprise, or QuickBooks Desktop Accountant, deleting a recorded deposit is simple. In the above article, we have discussed all the necessary steps to delete a deposit in QuickBooks. For any related queries, you can also take help from the QuickBooks ProAdvisor for their expert guidance and support. 

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