How to delete a Deposit in QuickBooks
QuickBooks has developed the smartest features. One of its finest features is deleting the deposit in your account. QuickBooks allows you to connect your bank account, so that each entry you made, it matches with your bank transaction.
Sometimes , you may make some wrong entries, entries that do not match your bank statement, or you want to make some amendments . In such cases, you need to delete a Deposit in QB.
In this article, we will discuss how to delete a deposit in QuickBooks?
What are Deposits?
Deposits are the amount paid to a customer in advance before taking any service. It is like a down payment paid before submitting the full amount.
It is recorded as liability.
Deposit is also considered as money which is kept in a bank as a savings. So deposit comes with multiple definitions.
Activating the deposits in QuickBooks
Here are some steps you need to follow for activating deposit in QuickBooks.
- Go to the dashboard and select Employee.
- By double clicking on the Employee’s name , select the Payroll information.
- Now , select Direct deposit.
- Enter all the details of the Employee such as name , account no. etc.
- Click on Ok.
1. How to delete a Deposit in QuickBooks
These steps will help you in deleting your deposit from QuickBooks.
- Open your QB and go to the List icon.
- Now click on Charts of account.
- Next double-click on Account and then again double-click on Deposit.
- Choose the deposit from the list you want to delete.
- Click on edit button and select Delete Line.
- Lastly , click on Delete deposit.
2. How to delete a Payments in QuickBooks
If you’re not going to accept payment anymore, you can delete the payment. Here are steps to delete payment.
- Go to the dashboard of the QB and select the customer.
- A drop-down list of payments appears.
- Select the payment you want to delete.
- At the bottom there is a more button, click on it.
- A delete option appears, go for it.
3. Delete duplicate payments in QuickBooks
We humans are bound to make mistakes. Sometimes we enter data twice or wrong. So, for deleting duplicate payment , follow these steps.
- Open QB, select company.
- Select the Banking option.
- Choose Make Deposit.
- Go to the Edit and select the Delete line.
- Now, click on Save.
- After saving, go to Charts of account.
- Select Undeposited fund and go to the Duplicate Payment.
- Click on Edit and select delete payment.
4. Undo the Deposit in QuickBooks
If you have by mistake, delete the deposit in QB. then here are steps to undo it.
- Open QB and go to the Record Deposit.
- Click on make deposit.
- Now select make a deposit.
- A deposit window opens, click on Cancel.
- Select Previous and click on Delete Deposit.
5. Delete Undeposited Fund in QuickBooks
The undeposited funds are those which are not recorded in bank statements and payment is still not done. Here are steps to delete undeposited funds in QB.
- Open the home page of QB and go to the list.
- Click on Charts of account.
- Go and select an undeposited fund icon.
- Now click on deposit and select the deposit you want to delete.
- Go to the Edit and then click on Delete payment.
Record bank deposit in Quickbooks
Here are the steps for recording bank deposits in QB.
- Open QB and go to the list.
- Select Charts of account.
- Now click on Undeposited Fund.
- After that, click on Select the payment included in deposit.
- Click on the bank deposit .
- Save it.
The overall conclusion is that this is the smartest and most valuable feature of QuickBooks.it enables you to record your deposit. If you accidentally insert data twice or there is duplication of data, QB comes as a savior. Now this software has become a family of every business.
In this article, we have mentioned all the possible steps to delete and undo your deposits.
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