Delete Deposit in QuickBooks Online & Desktop

by James Antonio Marketing Head

QuickBooks is the leading accounting software for small and medium businesses. The software makes it easier to manage finances, track payments, and generate reports. But sometimes, you may need to delete a deposit from your QuickBooks account. Whether you’re using QuickBooks Online or Desktop, deleting a deposit can be done with just a few clicks of your mouse. In this article, we’ll explain how to delete deposits in QuickBooks Online & Desktop and provide some helpful tips for avoiding common mistakes. Read on to learn more!

What is a deposit?

A deposit is a sum of money paid as an initial payment for the purchase of something, typically in response to an invoice or other formal demand for payment. When you make a deposit, you are essentially paying in advance for goods or services that you will receive at a later date.

In QuickBooks Online (QBO), deposits are recorded as journal entries. To delete a deposit, go to the Transactions menu and select Deposits. Find the deposit you want to delete and click on it. On the Deposit Detail page, click on the Delete button. You will be asked to confirm the deletion. Click Yes to confirm.

In QuickBooks Desktop (QBDT), deposits are recorded as transactions. To delete a deposit, go to the Banking menu and select Make Deposits. Find the deposit you want to delete and click on it. On the Deposit Detail page, click on the Delete button. You will be asked to confirm the deletion; click Yes to confirm.

How to delete a deposit in QuickBooks Online

Assuming you've already logged into your QuickBooks Online account, follow these steps:

From the left navigation bar, select Transactions.
Under the Transactions menu, select Deposits.
Find the deposit you want to delete and click on it.
Click on the Delete button at the top of the page.
A pop-up window will appear asking you to confirm the deletion. Click Yes to continue.
The deposit will now be deleted from QuickBooks Online.

How to delete a deposit in QuickBooks Desktop

If you have made a mistake and need to delete a deposit in QuickBooks, there are a few different ways to do this. In QuickBooks Desktop, you can delete the entire deposit or just selected line items within the deposit.

To delete an entire deposit:

Go to the Banking menu and select Make Deposits
In the Deposit window, select the bank account where the deposit was made from the Account drop-down
Find the deposit that needs to be deleted and click it to highlight it
Click Delete at the bottom of the window
Click OK when prompted to confirm deletion

To delete selected line items within a deposit:

Go to the Banking menu and select Make Deposits In the Deposit window, select the bank account where the deposit was made from the Account drop-down Find the deposit that needs to be edited Click on Edit next to that deposit Select which line items need to be deleted by clicking the X next to them Click Save & Close
Once you have deleted the deposit or line items within the deposit, QuickBooks will automatically adjust your bank balance to reflect the change.

Conclusion

Deleting deposits in QuickBooks Online and Desktop can be a tricky process, but with the right knowledge it can be done. We hope that this article has helped you understand how to delete deposits in both platforms and given you the confidence to do it safely. If you still have any questions or doubts about deleting your deposit, don't hesitate to reach out for help from an expert who will guide you through the process step-by-step. Good luck!

Reference: https://www.xaphyr.com/blogs/208291/How-to-Delete-Deposit-in-QuickBooks-Online-Desktop