Did you accidentally record the wrong amount for a deposit in your business’s Quickbooks account? If so, you may need to delete the deposit so that it doesn’t harm your business’s financial records. In Quickbooks, however, you can easily delete deposits in just a few simple steps.
Follow These Steps to Delete a Deposit
To delete a deposit in Quickbooks, log in to your account and select the “Record Deposits” button under the “Banking” tab on the home page. Next, you should see a new payments window appear on your screen. In this window, find the section labeled “Make Deposits View” and click the button labeled “Cancel” under it.
Assuming you followed these steps correctly, you should see a list of all your deposits. Go through this list until you find the one that you want to delete. You can then click the deposit, followed by ‘Delete Deposit” under the “Edit” menu. Quickbooks will then ask if you’re sure you want to delete the deposit. After clicking “Ok,” the deposit will be deleted. There are a few other ways to delete deposits, but this is arguably the easiest and fastest method.
Keep in mind that once you’ve deleted a deposit, you won’t be able to recover it. You can always go back and manually recreate the deposit, but there isn’t an “undo” button. So, before deleting a deposit, make sure it’s the right deposit. Otherwise, you’ll have to backtrack to recreate it.
What About Duplicate Deposits?
Erroneous deposits are often the result of duplicate entries. For example, you may accidentally record the same deposit twice, resulting in a duplicate entry. In cases such of duplicate deposits such as this, you’ll need to delete one of them.
To delete a duplicate deposit, open your Quickbooks company file and, once launched, click the “Make a Deposit” button under the “Banking menu.” You can then select the duplicate content, followed by “Edit” and then “Delete Line.” When finished, save and close the menu to complete the process.
It’s important to note that incoming funds are categorized as either deposited or undeposited in Quickbooks, depending on whether they’ve been deposited. If you have an erroneous deposit that needs deleting, just follow the steps outlined in this post. Don’t let duplicate or otherwise erroneous deposits throw off your business’s financial records. Use this guide to keep your business’s financial records in order.
Did this tutorial work for you? Let us know in the comments section below!