How do I correct a payment received that has already been deposited?

Two options: 1. Update the original payment receipt to the correct amount or 2. Just create a second payment receipt for the difference.

We'll provide details to help you correct the payment received deposited inside QuickBooks Online (QBO).

Before anything else, know you'll want to delete the bank deposit transaction entered inside the program to correct this. You'll then edit the amount received and enter a new deposit using the updated amount. We'll outline the steps to get you going:

1. Access your QuickBooks Online company.
2. On the left navigational bar, click the Transactions tab and select Chart of accounts.
3. Locate the bank account where you deposited the payment and then click View register.
4. Look for the deposit transaction and then click on it.
5. Select the Delete button and then click Yes.

Once done, proceed to edit the amount you received. These are the steps:

1. Access your QuickBooks Online company.
2. On the left navigational bar, click the +New button.
3. Select Receive payment and then click on the Past Basic Rounded Lineal icon beside Receive Payment section.
4. Locate the previous payment you recorded and then click on it.
5. Edit what received and then add the updated amount.
6. Once done, click the Save and close button.

You'll then enter a bank deposit using the updated amount to complete the process of correcting an incorrect payment received that has been deposited to your bank. For more details, please see this page: Record and make bank deposits in QuickBooks Online.

Moreover, here are some articles to help you handle bank transactions and learn more about reconciling an account inside QBO:

• Categorize online bank transactions in QuickBooks Online
• Reconcile an account in QuickBooks Online

If you require further assistance managing bank deposits or other transactions inside QuickBooks, know our dedicated team is always around to help you as soon as possible. Keep safe.