How Do I Delete A Deposit in QuickBooks?

How Do I Delete A Deposit in QuickBooks?

Recording deposits is important, and one way it has got simplified in this digital world is via QuickBooks. Users can easily link their bank account details with the QuickBooks and all the transaction gets sync directly. QuickBooks is the easiest way of storing your preferences and records automatically. It organizes every transaction and deposit from the bank account, which reduces errors.

Everything about QuickBooks

According to Statista, small business owners that use accounting software to streamline their business cash inflow and outflow is 64%.
Combine with QuickBooks Desktop Enterprise with that of Online advanced system, this software is used by more than 2,00,000 customers in the market.
QuickBooks is now serving 4.5 million Global QuickBooks online customers
40% of the QuickBooks online customers are small business owners

QuickBooks File doctor

QuickBooks File Doctor is a tool designed to ensure you easily recover your damaged company's file.
Along with that, you can also get the help of solving a few of the network issues if any.
You can review the results you receive from using the file doctor and see how the issues get resolved.

The Differences

First, there are a few things to understand here. Deleting and voiding are two different things. When you make a deletion of a particular deposit, the payments associated with the deposits get deleted totally. On the other hand, when you void a deposit, the value of it gets turned to zero.

You can store the deposits and also make use of it for analyzing the accounting data and creating useful reports out of it. These deposits will be shown up despite their values and it will make the reporting more useful and informative.

Dealings with QuickBooks Deposits

With  exact match of their bank account with that of QuickBooks, there are possibilities where you wish to undo the deposits without having to eliminate the company's payment record. But How?

Deleting a Payment from a QuickBooks Deposit

You can delete the deposits option on the Edit toolbar if in case you have chosen the deposit that ranges within the register. If in case there are multiple payments in a single deposit, you need to open the transaction and then use the Delete Line option.

Log into your QuickBooks system
Navigate to the List Menu
Click on the Chart of Accounts
From Charts of Accounts, you can access and look through all accounts present in the company file
You will see Undeposited Funds Account, click on that
The required deposit you wish to delete, filter to narrow down the list so it becomes easier to access
Click on the deposit and select the deposit payment you want to be deleted from it
Hit on the delete option and it will automatically remove the payment from that deposit
Save the changes made.

Reason Why QuickBooks is the best for business

It is easy to use:

Even if your company does not have a professional or huge accounting department, this software is still easy to use and manageable, designed for people who can simply operate Desktop without having to learn the technicality.

It is an Integrated tool

There are lots of helpful shortcuts and time-saving techniques that you can make use of. It makes the entire accounting and transaction handling process a lot simpler and efficient. The performance also rises significantly by using the software.

Safety and Adaptability

QuickBooks is slowly but rapidly evolving, become the best financial software that is presented in the market. It can be accessed with any sorts of modern devices which makes the business owner enjoy having complete company accounts at their fingertips.

Tax Management

Filing the tax report and also monitoring your income flow can be quick. Using this software, you can prepare a tax report and design it correctly on time.

The Bottom Line:

You are very likely to experience easy deleting of a deposit in QuickBooks if you follow these steps provided in the article. Making use of this software in your daily company accounting will not only save your money and energy but give you a chance to be more productive.