QuickBooks is an accounting and bookkeeping software. It is a very essential tool to help your business thrive. It does not only automatically track your income and expenses, but also helps you pay employees and contractors. With QuickBooks Online, always know where your business stands. It also allows you to delete errant deposits while restoring the checks included in the deposit to the undeposited funds account from where they can either be edited or completely eradicated. Stressing over how to delete a deposit in QuickBooks? It is fairly easy to delete a deposit in QuickBooks.

Before moving on to how to delete a deposit in QuickBooks, you should be aware of the reasons why you might need to delete a deposit in QuickBooks.

You might need to delete a deposit in QuickBooks. Read this blog to find out the ways to edit deposit in QuickBooks for the following reasons:

  1. Incorrect checks have been added to the deposit
  2. A duplicate deposit has been created
  3. A deposit has been added to the wrong customer or client.

How can I delete a deposit in QuickBooks?

 You can easily learn How to delete a deposit in QuickBooks just by following these simple steps:

  1. Open QuickBooks.
  2. Go to Check Register under the Banking menu on your QuickBooks Desktop home screen.
  3. Now, click on Use Register option from the drop down list.
  4. Then, find the deposit you want to delete. Choose the bank account where the incorrect deposit was recorded from the Select Account drop down menu
  5. Now, from the check register, look for the deposit that you wish to remove. Many of the deposits originate from the undeposited funds account. The undeposited funds account accumulates cheques as they are received and applied against Sales Receipt or Invoices. The cheques from the undeposited Accounts are then combined into a single deposit transaction which is then deposited in the bank. If you delete that particular deposit then all the checks included in that deposit should reappear in the undeposited funds account.
  6. Either delete or Void the deposit. Since there is no delete button on the deposit all you have to do to delete your deposit is click on the Edit menu which is available at the top of the screen and then click on delete deposit. While you are deleting the deposit you might have noticed that there is also an option to void it. When you delete a deposit, it is removed completely from QuickBooks. However, if your void a deposit the amount automatically turns to zero but the transaction is still recorded in QuickBooks
  7. Now, click on save and close In case QuickBooks asks you to confirm the change, click on Yes.

This answers your questions about how to delete a recorded deposit in QuickBooks.

The checks that you have included in the deleted deposit are then returned to the undeposited funds account, which can be found on the records deposit option under the banking menu. This concludes how do I delete a deposit in QuickBooks section.

Moving on, how to delete a payment from a deposit in QuickBooks. To learn how to delete a payment from a in QuickBooks abide by these steps mentioned below.

Deleting a payment from QuickBooks is a little bit tricky.

  1. Open the invoice you want to deal with
  2. You will see two tabs on the right panel of the Create Invoices panel.
  3. Now, go to the Transactions Tab.
  4. Under Related Transactions, the deposit you use as the payment must be visible.
  5. Click on the deposit transaction option. This will open the Make Deposits window.
  6. Now, click on Edit at the top menu and then select Delete deposit. You can also use the shortcut key that is Ctrl + D
  7. Now, click OK in order to confirm the action.
  8. Once the payment has been deleted, the invoice will open again.

If you are using QuickBooks pro 2022 version then you might have to use a different method to learn how to delete a deposit in QuickBooks pro 2022. To do so you must follow these instructions very carefully. The steps are given below:

  1. Open Quickbooks and then go to the toolbar.
  2. On the toolbar, click on edit and then click on delete deposit. Make sure to not click on delete line as that is different from the delete deposit option.
  3. If the deposit has multiple lines and you want to fix only one entry, what you can do is, you can delete just that line; fix the customer’s error and then finally update the position to bring in the corrected transaction. You can either delete the line or the entire deposit depending upon the data and the task you have at hand.

With this you have reached the conclusion of this article. Now you have successfully learnt how to delete a deposit in QuickBooks pro 2022 as well as how to delete a deposit in the older versions. You have also learnt how to delete a recorded payment. If you follow these instructions then you should not be facing any issue related to deleting a selected deposit or multiple deposits anymore. You can even delete a payment or multiple payments from QuickBooks without stressing out.

Related Quickbooks Posts you should check: