QuickBooks can be linked with a bank account for keeping track of deposits. Users can track deposits made to savings, current or money market accounts. Also, transactions are synchronized for keeping track of finances. Interests that users receive on these deposits are also synced with QB. Here, in this article we will learn, how to delete a recorded deposit in Quickbooks.
Unsure of how to create a deposit…? Check out this video…
Since, you will be deleting an entry within the program but if you want to know how to create an entry in the first place then check this out.
Finding particular deposits can be simplified by using the reporting tool of QuickBooks. Reports summarize all the data in their domain. They also contain links to all the transactions and forms that were used for generating the report. For finding a particular deposit, users need to create a deposit detail report. Further, by using reports, users can filter for deposits for particular dates, hence making the search easier.
How to Delete A Recorded or Duplicate Deposit in QuickBooks
To delete a Recorded or Duplicate Deposit in Quickbooks, You have to follow Two step processor. The first one is To locate a Recorded or Duplicate Deposit & the second one is to delete them.
To make the process smoother, Please follow the mentioned below steps:
Total Time: 15 minutes
Step One: Find Recorded or Duplicate Deposit
For finding a recorded deposit, follow the steps given below:
💠 Go to reports from the left navigation panel or from the Create (+) menu.
💠 Search for Deposit Detail Report. QuickBooks smart search will predict and show results as you type.
💠 Set date range for which you want to find the deposit.
💠 Hit Run Report.
💠 Select the report you may want to delete.
Step Two: Delete a recorded deposit with Applied Payments
💠 If you want to delete the entire deposit along with payments applied on it.
💠 Then just hit delete.
💠 QB will erase all the related payments and applied to that particular deposit.
💠 Users can then create a new deposit and apply for payments by downloading transactions from their bank account.
💠 Users who have linked their bank account with Quickbooks can simply sync the transactions for applying payments to deposits.
Related Article: How to record a security deposit in Quickbooks Enterprise?
Delete Payments Applied on A Recorded Deposit
Instead of selecting ‘Delete Deposit’, click on delete the line. This will remove that particular payment from the deposit. After deleting the payment/ line, you can either apply new payments to that deposit or save and close the window.
Undo the recorded Deposit:
- From the left navigation panel, go to Banking.
- Select Record Deposits
- Find the deposit that you want to undo or delete
- Click on edit and hit delete.
This method can be used by users who want to undo a recently recorded deposit. This isn’t a viable option if you want to edit or delete a deposit that was recorded even a month ago. Filtering and searching for deposits through reports would be the best option for finding and deleting particular deposits. QuickBooks also has a Deposit Summary transaction report through which users can track these changes.
Need Professional Help?
If you get stuck anywhere in the process, feel free to get in touch with SMBAccountants Team, Which is available 24/7.
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