How to delete a check from a deposit in QuickBooks? Complete step by step guide.

How to delete a check from a deposit in QuickBooks? Complete step by step guide.

Organizations require both liquid and current assets. The most liquid of all assets is cash. After cash, come bank deposits that enable organizations to keep their money safe and at hand. QuickBooks can be connected with the bank for directly recording transactions and deposits into this accounting software. Whenever a deposit is made or withdrawn, the data about it is synced with QuickBooks. But what if you need to delete a check. Well, that’s what we will discuss today on “how to delete a check from a deposit in QuickBooks”

This simplifies the task of recording transactions and organizing them. Also, creating a clearing account becomes easier by linking a bank account with QuickBooks. Users can also reconcile accounts easily. Since transactions are synced; they can be tallied easily with the transactions recorded in a particular account. Hence, users will be able to avoid a lot of problems that they usually encounter during the end of financial year.

Types of Bank deposit accounts:

There can be multiple types of bank deposit accounts, some of which have been mentioned below:

  • Savings Account
  • Current Account
  • Call Deposit Account
  • Federal Deposit Insurance Corporation (FDIC)
  • Time Deposit Account

The rate of return differs from account to account and bank to bank. The interest that depositors receive from the bank is also synced with QB.

Steps on how to delete a check from a deposit in QuickBooks:

Follow the steps given below to delete a particular deposit from QuickBooks:

  1. Click on the Create(+) menu
  2. Select Reports
  3. Search for Deposit Detail Report. QuickBooks 2017 users can use the smart search feature for easily finding particular reports.
  4. Select a date range in which the deposit was created
  5. Run the report
  6. Mark all the deposits you wish to delete
  7. Hit delete

This is the easiest way of deleting deposits in QuickBooks. Users can simply search for particular deposits by applying filters through reports.

Note:

If a deposit is deleted then all payments attached to it are also deleted. To recreate the deposit, you will need to match payments and transactions by downloading them from your bank or manually entering them from your bank statement.

For deleting particular payment lines, users can simply select the deposit. After that, users need to select all the payment lines they wish to delete. Just by pressing the delete button will remove the payment not only from that particular deposit but also from QuickBooks.

Undo a deposit:

QuickBooks also provides the option to undo a particular deposit. For doing so users can follow the steps here:

  • Go to Banking.
  • Press the record Deposits button.
  • Select the Deposit option and,
  • Click on edit and undo option.

By using this option, users can easily undo or delete a recently recorded deposit.

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