Quickbooks: How to Delete Payments in Undeposited Funds

When depositing checks, you may find that some of your customers’ payments remain in the “payments to deposit” window. As explained by Intuit, Quickbooks uses the “Undeposited Funds” section as a holding account. When you receive a payment from an invoice or sales receipt, the funds will be temporarily held here until you actually deposit them to Quickbooks. The “payment to deposit” window is essentially a reflection of the “Undeposited Funds” section, revealing which payments you haven’t officially deposited.

But what if you’ve already deposited a payment, and it still appears in the “payment to deposit” window? In this case, you’ll need to check the “Undeposited Funds” and “Transaction History” for the payment so you’ll know which one to delete.

You can delete payments in the “Undeposited Funds” window by logging in to your Quickbooks account and choosing Lists > Chart of Accounts > Undeposited Funds > Amount > right-click on “Amount” > Delete Deposit. Quickbooks will then ask you to confirm, at which point you should click “OK.” This will delete the payment from your “Undeposited Funds” window.

Additionally, you can check your payment history by accessing Customers > select the customer from whom you received the payment > select the invoice to which the payment is associated > Reports > Transaction History. From here, you’ll be able to view the transaction for the payment.

Keep in mind that you can also turn off the “Undeposited Funds” feature by making just a few simple changes to your account. If you struggle with deposited payments appearing here frequently, it’s a good idea to deactivate this feature. To turn off “Undeposited Funds,” log in to your Quickbooks account and choose Edit > Preferences > Payments > Company Preferences. From here, you can uncheck the option for “Use Undeposited Funds as default deposit to account.” Once deactivated, your deposited payments will no longer appear in the “Undeposited Funds” window.

Of course, some business owners and accountants may accidentally delete their deposit — and that’s okay. Quickbooks makes recovering deleted deposits a breeze. All you need to do is recreate the payment. This is done by clicking the Create (+) button, followed by “Bank Deposit” and “Select Existing Payments.” You can then scroll through your existing payments to recreate the one that you accidentally deleted. When finished, click “Save” to complete the changes and close the window.

Did this tutorial work for you? Let us know in the comments section below!

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