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How to Delete a Deposit in QuickBooks?

how do delete a deposit in quickbooks

QuickBooks users record their deposits in the software so that it exactly matches their bank records. In case, the bank records the payments separately, they need to add each payment one by one. The software allows its users to connect their bank accounts and perform transactions directly from QB. Sometimes, it happens that deposits are added or recorded incorrectly in the account register. In such cases, it becomes essential to undo the deposits without eliminating it from the company’s payment record. For this, you need to know the procedure of how to delete a deposit in QuickBooks.

The process to add deposits in the company’s account is quite simple. Here, let’s try to understand the correct method to delete the incorrect recorded deposits.

How to Delete a Deposit in QuickBooks?

These instructions will help you in understanding the right procedure of how to delete a deposit in QuickBooks. If you are wondering how do I delete a deposit in QuickBooks, then these steps will aid you:

  1. Firstly, you need to click on lists.
  2. Then, click on the chart of accounts icon.
  3. Now, you have to double-click on the account.
  4. Next, double-click on the deposit.
  5. In case, you want to delete a particular payment, you need to choose it from the list.
  6. Click on the edit tab.
  7. You need to click on the delete line.
  8. Finally, click on the delete deposit in case there is a need to delete the entire deposit.

After learning the process of how to delete a deposit in QuickBooks, you need to know how to delete a payment from a deposit in QuickBooks.

Steps to Delete a Payment in QuickBooks

In case you have decided not to accept a payment, you can use the edit menu in the software to completely delete the payment:

  1. In the beginning, on the QuickBooks home page, you need to click on the record deposits
  2. Now, click on cancel if you see payment to deposit window on your system’s screen.
  3. Next, place the particular deposit that you have to delete. In case you didn’t find it, click on the previous
  4. Finally, you need to click on the edit menu and then click on delete deposit. With this, click on ok if you want to delete the payment.

Steps to Delete a Payment from Deposited Funds

You need to follow these steps in case you have mistakenly made the payment to the customer in another account:

  1. Initially, go to the QuickBooks home page. You need to click on the lists menu and then click on the chart of accounts.
  2. Then, double-click on undeposited funds.
  3. Now, click on the particular payment that you have to delete.
  4. In the end, open the edit menu, and then click on delete payment. With this, click on ok to delete the entry.

Also Read: How to Reprint Checks in QuickBooks? – A Detail Guide 

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Steps to Delete Duplicate Payments in QuickBooks

The chances of duplicate payments may occur in QuickBooks. If you have accidentally added the payment of a customer twice, these steps will help you to delete duplicate payments in QuickBooks:

  1. Firstly, open the software and then click on the company file to open it.
  2. Next, go to the banking menu and then click on make a deposit.
  3. Now, click on the line from where you have to delete duplicate payments and then click on edit.
  4. You need to click on the delete line.
  5. Click on save.
  6. Thereafter click on the chart of Accounts.
  7. You need to double-click on the undeposited funds icon.
  8. Finally, go to the duplicate payment. You need to use the edit button and then click on delete payment.

How to Undo a Deposit in QuickBooks?

These steps will help you to get back your deleted deposited amount from QuickBooks:

  1. Initially, on the QB homepage click on the record deposits icon. You need to click on make deposits.
  2. Now, if the payments to deposit window opens on the PC screen, then click on cancel icon.
  3. Click on the previous icon.
  4. Lastly, click on the edit menu and then click on delete Deposit.

Hopefully, with the aforementioned steps you have got the understanding of how to undo a deposit in QuickBooks. Now, let’s move to the final steps of deleting undeposited funds.

Steps to Delete Undeposited Funds

Undeposited funds in QuickBooks keeps a record of remaining customer payments till you are capable to pay the amount. Understanding the process of deleting undeposited funds are essential to clear them:

  1. Firstly, click on the lists menu.
  2. Now, you need to click on the chart of accounts.
  3. Next, you have to double-click on undeposited funds.
  4. Afterwards, click on the deposit that you have to delete.
  5. Finally, click on the edit menu, and then click on delete payment.

Conclusion

Hopefully, you have got an understanding of how to delete a deposit in QuickBooks. We had begun this blog with the purpose to delete a deposit in QB and the process of deleting it. Secondly, we have also discussed the steps of how to delete a payment in QuickBooks, how to delete a payment from deposited funds, how to delete duplicate payments in QB. Lastly, we charted the steps involved to delete undeposited funds. In case you ever mistakenly add the deposits inaccurately, then you can take the help of this blog.

If you still have queries related to how to delete a deposit in QuickBooks, then dial Toll-free QuickBooks Support Number.

FAQ’s

Q1 How to correct a deposit in QuickBooks?

A: These steps will help you to correct a deposit in QuickBooks:
1. Firstly, you need to select the settings
2. Now, choose chart of accounts.
3. Then, select view register by finding a deposit account.
4. You are supposed to choose the deposit and then edit.
5. Choose the sales receipt or corrected payment.
6. You are supposed to select save and then Click on yes to confirm the changes.
7. Finally, you need to make sure that the deposit balance is right.

Q2 What will happen if I delete a deposit in QuickBooks?

A: When you will delete a deposit, the payments will get back to you. The payments will come back to you.

Q3 How do I delete duplicate deposits in QuickBooks?

A: You need to follow these steps to delete duplicate deposits in QuickBooks:
1. Initially, you have to choose banking.
2. Then, you are required to select bank feeds and then click the bank feeds center.
3. Now, you are supposed to click the transaction list button.
4. Search for duplicate deposit and then put a checkmark to choose it.
5. You have to go to the action column and then choose ignore icon.
6. Finally, press yes.

Q4 Do deposit funds get debited or credited?

A: After receiving payment, the deposited fund’s account gets debited with the payment. When you will make a deposit, your undeposited fund’s account is credited for the amount of the deposit.
 

Q5 How to manually add a deposit in QuickBooks Online?

A: Follow these instructions to record deposits in QuickBooks Online:
1. To begin with, you need to navigate to the quick create menu.
2. After that, complete the bank deposit.
3. Now, you have to navigate to the QB home screen.
4. You need to navigate to the check register.
5. With this, review the QB deposit record.
6. Select the deposit to make changes in the check register.
7. Finally, you have to make and save changes to the deposit.

Q6 How to delete a payment?

A: These steps will help you to delete a payment:
1. Open the Google play store app on your android phone or tablet.
2. You have to click on menu payment methods and go to more payment settings.
3. You have to sign in to pay.google.com.
4. Finally, click on remove.

Q7 How do you fix negative undeposited funds?

A: If you want to resolve issues with negative transactions in undeposited funds, then you need to make a zero-value deposit. Besides, you have to record the negative value deposit in it.
>These are the steps to offset the negative value:
1. To start with, choose new ⨁.
2. Now, click on the bank deposit.
3. You need to choose the payment and the journal entry.
4. Finally, click on save.

Q8 How to record a deposit in QuickBooks Desktop?

A: These steps will help you to record a deposit in QuickBooks Desktop:
1. You have to select record deposits/make deposits.
2. Then, choose the payments that you need to combine.
3. Now, click ok.
4. Finally, choose the account you want to put your money into.

Q9 How to reverse a payment received in QuickBooks?

A: These steps will help you to reverse a payment received in QuickBooks:
1. To begin with, you have to sign in to your QuickBooks payments account.
2. Now, choose transactions.
3. Add the right date range and choose search.
4. Next, choose the transaction ID or you can select the transaction that you need to reverse.
5. Lastly, click on reverse.

Q10 What will I do in case if come across an error while deleting a deposit in QuickBooks?

A: In this case, you need to talk to your QuickBooks professionals to get quick troubleshoot software-related issues.

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