Deleting the deposit is necessary for some conditions. Because it protects your accounts from being hacked. You must be thinking why do I need to delete a deposit in QuickBooks let us help you. You don’t know when you created the duplicate deposit payments and sent them to the wrong customers by mistake. In that situation, you are required to delete deposits in QuickBooks. There are other reasons as well to delete the deposit in QBs, which we will discuss later in this article. We will walk you through the different steps to delete a deposit ahead. Just read the article to get more knowledge to learn how to delete a deposit in QuickBooks.
Why do you Need to Delete Deposits in QuickBooks?
There are various causes for deleting the deposit in QuickBooks. Some of them are listed below.
- Added the deposit to the incorrect customers.
- You created a duplicate deposit mistakenly.
- It will be needed to delete when you added the wrong checks to the deposit.
How to Delete a Deposit in QuickBooks Desktop Version?
Now, that you know why do you require to delete a deposit, you must willing to learn how to delete a deposit in QuickBooks in just a few clicks. So, here are the steps to delete deposits in QuickBooks desktop. Follow it as mentioned.
- To start with, launch the QuickBooks desktop software.
- Then, navigate toward the menu bar available at the top.
- Now, choose the Lists option and then select Chart of accounts.
- Further, you need to click twice on the account and click on deposit.
- Next, you will be provided the list of the payments, where you have to select the particular payment that you wanted to delete.
- Tap on Edit choice.
- Thereafter, click once on the Delete Line.
- Go for the option of delete deposit and click on it, then hit Ok.
How do I Delete a Deposit in QuickBooks?
Follow the below-mentioned steps in order to delete deposits in QuickBooks.
- First of all, open your QBs accounting software.
- Second, locate the lists option and click on it.
- Now, go to the option of Chart of Accounts.
- After that, you need to double-click on the deposit under the account option.
- Once done, go for the edit tab and single-click on the delete line.
- Lastly, you need to tap on delete deposit in case you want to delete it completely.
Steps to Delete Duplicate Payments in the QuickBooks?
Duplicate payment occurs when you enter the payment two times mistakenly. You need to delete this duplicate payment in the QBs by following the below-given steps.
- First of all, access the QBs software and open the company files.
- Secondly, you need to click on the banking tab, and then select the deposit.
- Now, single-click on the edit option to select the duplicate payment line.
- After that, single-click on the delete line.
- Hit the save button to apply the changes that you have done.
- Locate the list tab and double-click on the chart of accounts and then double-click on undeposited funds.
- Next, select the duplicate payment that you want to remove and follow the same process of deletion.
What are the Steps to Delete the Undeposited Funds in QuickBooks?
Now that you learn how to delete deposits in QuickBooks. So, now we are going to mention the steps to delete the undeposited funds. Follow the steps here.
- To start with, you must launch the installed QBs accounting software.
- Then single-click on the Lists, and select the Chart of Accounts.
- Next, navigate the Undeposited Funds, and then double-click on it.
- After that, click on the option of the deposit that has to be removed.
- Now, go for the edit tab, select the delete payment choice, and press enter.
Note – If the undeposited funds won’t get deleted then, you have to ensure that the above-outlined steps were followed correctly.
Steps to Recover Deleted Bank Deposit in QuickBooks?
If you want to recover the deleted bank deposit, then follow the below-mentioned steps to get it back.
- Initially, access the QBs desktop app and single-click on the create option or plus(+) icon.
- Choose the existing payment option by selecting the bank deposit option.
- Search entire payments and make newer ones that you have deleted by mistake.
We have mentioned all the information about how to delete payments to deposit in QuickBooks. Hopefully, this article will be helpful and useful to you and you are able to delete deposits in QuickBooks by yourself. If you are stuck anywhere, then go for the technical support that is available 24 by 7.
Frequently Asked Questions (FAQs)
Q.1 Can I delete a deposit in QuickBooks if it’s already reconciled?
No, if a deposit has already been reconciled, you won’t be able to delete it. You will need to void the deposit and make a new one.
Q.2 How do I delete multiple deposits at once in QuickBooks?
Unfortunately, QuickBooks does not have the option to delete multiple deposits at once. You will need to delete each deposit individually.
Q.3 What happens if I delete a deposit that has already been reported in my financial statements?
Deleting a deposit that has already been reported in your financial statements can cause discrepancies in your financial records. It’s best to consult with an accountant before deleting any deposits.