How to Delete Deposit in QuickBooks?

Published by admin on Last Updated On :Nov 08, 2022

As we all QuickBooks is only the perfect accounting software for solo, freelancers, and small and medium-sized organizations. It tracks down all the bank payments. These QuickBooks payments /funds are divided into two sections- Deposit and Undeposited payments. The stored payments hold the single-time payments and are stored in the bank though the undeposited one holds the little payments got around the same time. QuickBooks likewise permits you to delete the delinquent store while recovering the checks from the store to the undeposited assets’ record, where you can alter or eliminate them. This module will guide you to delete deposit in QuickBooks with a step-by-step procedure.

Read about :- QuickBooks Web Connector

Table of Contents

Why Choose QuickBooks Delete Deposit?

There are many scenarios where the users want to delete or undo deposits in QuickBooks. Some are:

When the incorrect checks are added to the deposit.
Due to the creation of duplicate deposits.
When adding a deposit to the wrong client.

Steps to eliminate Deposit in QuickBooks Desktop?

To delete deposit in QuickBooks, the following steps:

Choose check register.
Find the Deposit.
Delete or Void the deposit.

Choose Check Register

Firstly, open your QuickBooks Desktop landing page, and go to Check Register from the Banking menu. You can likewise go to the highest point of the screen, click on the Banking menu and afterward utilize the dropdown and click on Use Register.

Choose the Deposit

In this step, we will pick the deposit to delete. Pick the Bank account from the Select Account drop-down with the mistaken deposit recorded. Presently, from a realistic look at the register, look for the deposit to delete. You can see many deposits from the record of the undeposited fund’s account. The undeposited fund’s account gathers the checks as they are gotten and suggest against Sales Receipts or Invoices. When saved in the bank, these checks are consolidated into a solitary deposit exchange. In the event that you delete deposit in QuickBooks, every one of them makes sure that it is likewise remembered for the deposit will return in the record of undeposited funds.

Delete or Void Deposit in QuickBooks

In the wake of getting the deposit deleted, you can see the Delete button on the deposit screen. For erasing your deposit, from the top point of the screen, click on the Edit menu and, afterward, Delete Deposit. At the point when you are finished erasing the deposit, there is a decision to void it. By erasing it, it is totally eliminated from QuickBooks. In addition, these void deposits can move the sum to nothing, yet the exchange will keep in QuickBooks. Now, go with the dropdown of Void Deposit from the Edit menu for deposit void. After that, click on Save and Close button and then choose Yes when asked for confirmation of the modification to delete deposit in QuickBooks. By doing this, the undeposited funds accounts get the deleted deposit. These can be browsed from the Banking menu>>Record Deposits. After getting the customer checks in the undeposited fund’s screen, you get the option to edit, delete or combine the deposits in another new deposit.

Read about :-QuickBooks tool hub

How Do I Remove Deposit in QuickBooks?

When the different payments are held in one deposit, you can go for delete Deposit in QuickBooks and then Edit Toolbar>>Delete Deposit. For several payments, open the transaction you want to remove and click on the Delete Line option. The following are the steps:

Firstly, click on the Lists option from the top menu.
Secondly, click the Chart of Accounts option and double-click on Account.
Now, click on Deposit, and choose the payment you want to delete.
After that, click on the Edit tab
Later, click on the Delete Line option and the Delete Deposit to delete all the deposits.
Now, click on OK to confirm the deletion of the transaction.
Lastly, click on OK, and your deposit will be deleted.

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What are the Scenarios After Voiding a Deposit in QuickBooks?

If you void the deposit besides of delete deposit in QuickBooks, the following scenarios will happen:

Your dollar amount will be shown as $0.
The financial reports and account balances will not affect.
Your whole balance of accounts will be Zero by QuickBooks.
You get a void transaction in QuickBooks.

Read about :-:- Quickbooks Paystub Password

How to Void Deposit in QuickBooks?

It is the right step to void the deposit instead to delete deposit in QuickBooks. The following are the steps:

In the initial step, click on the Sales and then Expenses menu.
Then, search for the transaction created by fault and open it.
Check the transaction correctly.
If you want to retain a void date, then simply attach a note in the Memo section.
Now, from the footer, click on More.
Click on the Void option.
Finally, click on yes to confirm.

Only one transaction can be void at a time. If you want to delete a payment in QuickBooks, you can do it with the following section.

Delete a Payment in QuickBooks

Instead to delete deposit in QuickBooks, as of now, having chosen not to acknowledge payment, utilize the Edit menu to Delete A Payment In QuickBooks. In the underneath segment, steps will direct you through the deleting methodology. Go through individually:

To start with, launch QuickBooks Desktop.
Presently, click on the “Record Deposits” tab.
From that point forward, pick the “Banking” menu, and then you have to choose the “Make Deposits” choice.
Presently, if the “Payment to Deposits “window clicks on the “Cancel” tab shows up on your system’s screen.
Click “Previous” to distinguish the payment or deposit that must be erased.
Then, you need to tap on the “Edit” menu and pick “Delete Deposit” afterward. With this, click “OK” to delete the payment.

The above directions will direct you to Delete A Payment In QuickBooks. Consequently, with no disarray, follow individually till the end without skirting a solitary step.

Delete Duplicate Deposits in QuickBooks

Sometimes, the payments enter in the deposits mistakenly, so delete deposit in QuickBooks which are duplicates with the following steps:

Firstly, open the QuickBooks Desktop application.
Secondly, click on the Company File tab.
When you access the Company File, move to the Banking menu.
After that, you have to click on the Make a Deposit option.
Now, select the duplicate to delete and click on Edit.
Next, choose Edit Delete Line from the drop-down menu.
In the next step, you must choose Chart of Accounts to migrate to the List.
Afterward, click twice on the Undeposited Funds in QuickBooks for getting the bank account register.
Choose Duplicate Payment to delete.
Now, click on Edit.
Finally, click on the Delete option.

Delete Deposit in QuickBooks from Undeposited Funds

If you want to delete a deposit that is present in the Undesposite funds from QuickBooks, the following are the steps:

In the first step, open the QuickBooks Desktop and head towards the Lists option.
Secondly, go for the Chart of Accounts option.
Then, from the dropdown, pick QuickBooks Undeposited Funds.
Now, right-click on Amount to be Deleted.
Click on Delete Deposit.
Lastly, click on OK to confirm.

After deleting the duplicate deposits from QuickBooks, if you want to edit the deposit Online, go with the following section.

Edit Deposit in QuickBooks Online

You always have the option to edit the deposit, instead to delete deposit in QuickBooks Online. Following are the steps to execute.

Firstly, access QuickBooks Online.
Secondly, choose the Bank Deposit option.
Now, from the “Add other funds to this deposit” portion, check for the deposit list. If so, then it is easy to edit the name on the deposit.
In the next step, locate and open the deposit.
After that, click on the Name field, and according to you, change the Name.
Lastly, click on Save.

The next section is for you if you are a QuickBooks Desktop user and want to edit the deposit.

Edit Deposit in QuickBooks Desktop

Go to the Accounting tab, then choose the Chart of Accounts option.
Then, locate the payment deposit account and then hit the View register button.
Lastly, click on Edit.

Read about :-QuickBooks desktop to online

Finishing Up

This blog presents you with steps to delete deposits in QuickBooks. We also present the steps for deleting duplicate deposits and editing deposits in QuickBooks Online and deposit. It is essential to note down all the deposits for an accurate and correct deposit report. If any duplicate deposit creates, then follow the above steps and delete them. However, if you face any problem while deleting the deposits in QuickBooks, then contact our ProAdvisors to get an immediate solution through Email or Live Chat. Thank You!