QuickBooks always provides many accounting features that help small and medium-scale businesses to manage their business accounting easily. QuickBooks offers one such feature that tracks all your bank payments. These payments or funds are different in two categories in QuickBooks, Deposit Payments and Deposited Payments. With the help of these deposits, you get all your bank transactions in one place, whether they are of your bank, debit, or credit cards. There are many scenarios where the users want to delete deposits in QuickBooks but don’t know how to. Well, if you also want to know, then you are at the right place. Here you will get the step-by-step procedure to delete the deposits and duplicate deposits from QuickBooks.
Deposit Payments contain all your one-time payments and record them in the bank, whereas Deposited payments consist of all the small payments you received simultaneously. But some users ask why there is a need to delete the deposits in QuickBooks. For that, we also have answered in the next section.
Why Delete Deposits in QuickBooks?
Below are some scenarios where the user wants to delete the quickbooks direct deposit form:
- When you address the wrong checks in the deposit.
- When the duplicate deposit creates in the QuickBooks
- In the case of when you adding a deposit to the wrong client.
Now, let’s move to perform the QuickBooks Delete Deposit procedure in the next section.
How to Delete Deposits in QuickBooks?
If a single deposit contains numerous payments, choose Remove Deposit in QuickBooks, followed by Edit Toolbar>>Delete Deposit. Open the transaction, then choose the Delete Line to eliminate numerous payments. The following are the steps:
- To start, select Lists from the menu.
- After that, double-click on Account from the Chart of Accounts.
- Go to Deposit now and choose the payment you want to remove.
- Select the Edit tab.
- Afterward, to delete all deposits, choose Delete Line and Delete Deposit.
- Click OK once more to finalize the cancellation of the transaction.
- To confirm the deletion of your deposit, click OK one last time.
If you don’t want to delete deposits in QuickBooks Desktop, but want to edit them, then go with
The following section.
Steps Edit a Deposit in QuickBooks?
The ability to alter deposits is always present in QuickBooks. Instead of learning how to delete a deposit in QuickBooks Desktop, keep reading to discover how to edit one:
- To edit, click the Chart of Accounts option on the Accounting tab.
- Next, find the payment deposit account.
- When you’ve located it, choose “View Register” from the menu.
- The final step is to choose Edit and make the required deposit modifications.
The deposit can also be revoked void using QuickBooks Desktop. You should perform the following steps to void:
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How to Void a Deposit in QuickBooks?
In addition, to delete deposits in QuickBooks, you may also undo or void them by following the instructions below:
- First, navigate to Sales and select the Expenses menu to cancel a deposit.
- Now look for the transaction that was accidentally created and open it.
- Check the transaction properly after that.
- You must go to the Memo section and attach a note if you want to insert a void date.
- The More link is in the footer.
- Now select Void from the menu.
- Click Yes to confirm in the final section.
After learning how to delete, void, and edit in QuickBooks Desktop, we’ll move on to delete deposits in QuickBooks Online.
How do I Delete A Deposit in QuickBooks Online?
Operating QuickBooks Online is more straightforward than using the desktop version. You can quickly assess the accounts, reports, and several functions that are most frequently utilized using the QuickBooks Online Dashboard. Let’s proceed to remove deposits from QuickBooks now:
- First, select Invoicing from the Left Menu.
- Next, select Customer Account by clicking on the Customer option.
- Select the transaction you wish to remove right now.
- Next, select More from the bottom menu.
- Finally, select Delete.
How can I Edit a Deposit in QuickBooks Online?
In this section, you can easily edit the deposits, besides deleting deposits in QuickBooks. The following are the steps:
- Log in to QuickBooks Online first, then select the Bank Deposit option from the menu.
- After that, check for the deposit list under “Add other monies to this deposit” by clicking. If so, it is straightforward to change the name on the deposit.
- Find the deposit and then open it.
- After that, select the Name field and edit it as needed.
- Click the Save button to finish.
You can also delete a payment in QuickBooks Desktop; to do this, follow the steps in the section after this one.
Delete Payment in QuickBooks Desktop?
If you prefer not to use the delete deposits in QuickBooks, you can remove the entire payment. Now that you’ve decided not to recognize the payment, use the Edit menu to delete the payment from QuickBooks Download. The section below contains instructions for the removal procedure. Walk through each one separately:
- To begin, open QuickBooks Desktop.
- Select “Record Deposits” from the menu.
- Select the “Banking” menu next, and then you need to choose the “Make Deposits” option.
- Currently, the “Cancel” tab shows up on your computer’s screen if the “Payment to Deposits” window is selected.
- Click “Previous” to find the deposit or payment that has to be removed.
- The next step is to click the “Edit” menu and choose Delete Deposits in QuickBooks Desktop. Then, click “OK” to eliminate the payment.
If you want to delete a duplicate deposit in QuickBooks, it is advised that you follow the instructions in the following section.
How to Delete Duplicate Deposit in QuickBooks Desktop?
Deposits are often entered twice by accident, which causes identical duplicate deposits to appear in QuickBooks. Deleting the duplicate deposit will simplify the situation. To delete deposits in QuickBooks which are duplicates, follow the instructions below:
- Launch the QuickBooks Desktop application first.
- Choose the Company File tab next.
- Open the Company File, then setup quickbooks bank feed from the menu.
- The next step is to choose to Make a Deposit.
- Click Edit after selecting the duplicate you want to get rid of.
- A drop-down menu will appear; choose Edit Delete Line.
- The Chart of Accounts must be chosen in the next stage in order to proceed to the List.
- To access the bank account registration after that, double-click QuickBooks’ Deposited Funds.
Call of Action
Deposits payments make transaction tracking easier, whether a bank, credit or debit card. It not only tracks only one bank or card’s transactions but all of your bank’s accounts and cards. But due to some scenarios, if you want to delete them. Then, with this informative blog, we present the step-by-step process to know how to delete deposits on QuickBooks desktop and online. You will also get the edit and delete duplicate deposits in QuickBooks. If you have any concerns regarding deleting or facing any issues, contact our ProAdvisors via Email or Live Chat to get an immediate solution.