How do I delete a deposit?

DELETE DEPOSIT IS NOT AN OPTION UNDER EDIT IN MY TOOL BAR.  I NEED TO CORRECT THIS DEPOSIT THAT WAS POSTED IN ERROR.

there is not an option to delete deposit under the edit in my tool bar.  I need to delete this deposit that was posted in error.

my toolbar EDIT doesnt give an option to DELETE DEPOSIT. Is there another way?

Hi there, @JenniferRN.

I can help you delete the deposit successfully.

Aside from the Delete Deposit option, you can delete the incorrect deposit following these steps:

1. Click on Lists at the top menu bar.
2. Select Chart of Accounts.
3. Select the your bank.
4. Locate and open the deposit.
5. Press on Ctrl+D on your keyboard.
6. Click on OK.
7. Select OK when ask to delete the transaction.

This should help you remove/delete the deposit. For additional reference, you can see attached screenshots below.

For further details about deposits, you can also check this article: Deposit customer payments.

Let me know if you have any other questions about deposits. I'm always here to help you.

I was having the same problem and did the following:

Make sure you don't have an open window for 

   Customers->Enter Sales Receipt or

   Customers-> Create Invoice, etc

Selected: Banking->Use Register, then from the Select Account window select Undeposited Funds.

from there I scrolled down to the desired deposit entry and deleted it.

Note: this assumes the deposit was originbally directed to "Undeposited Funds". If it went to a different bank register I'm assuming you would have to use that register instead.

There is no "Delete Deposit" in the tool bar "Edit" drop down list. I have QB Professional 2020. How do I delete a deposit that was made in error? And I keep getting a message that I cannot delete a payment until I delete the deposit. There appears to be no way to delete a deposit. Nione of the previous methods mentioned in this chain work.

I appreciate you for sharing the details and for going through the steps above, @GRDLaw.

Let's update your QuickBooks Desktop (QBDT) to have the latest features and fixes. Let me guide you how.

1. Go to the Help menu.
2. Select Update QuickBooks Desktop.
3. Go to the Update Now tab. 
4. Select Get Updates to start the download.
5. Click restart QuickBooks when the download finishes.
6. When prompted, accept the option to install the new release.

You can also check this article for more detailed steps: Update your QuickBooks to the latest release. 

You might also want to check this article that can guide effectively in reconciling your accounts: Reconcile an account in QuickBooks Desktop.

You can always get back to me whenever you have other concerns or questions. I'm more than happy to help you. Keep safe and stay healthy!

I accidentally categorized a transaction as a deposit instead of a transfer.  How can O fix this as it is causing balancing issues.

Thank you

Hello, @kstansbury.

You'd want to locate the deposit transaction and delete it. Then, record a transfer transaction in QuickBooks. I can guide you on how to do it.

Here's how to delete your deposit transaction:

1. Go to the Banking menu.
2. Select Use Register.
3. From the Select Account drop-down, choose the account where the incorrect transactions were recorded.
4. Click Ok.
5. Locate the deposit transaction. 
6. Right-click on the deposit.
7. Pick Delete Deposit.
8. Click Ok to confirm.

Now, we can record your transfer transaction accurately. Here's how:

1. Click the Banking menu.
2. Choose Transfer Funds on the drop-down selection.
3. Pick the account you want to transfer the funds from.
4. Select the account you want to transfer the funds to.
5. Enter the desired amount you want to be transferred.
6. Click the Save & Close button.

I've added these articles that can help you in downloading, modifying, and categorizing your bank transactions:

• Download Bank Feed transactions in QuickBooks Desktop 
• Customize company and financial reports  
• Add and match Bank Feed transactions 

Keep me posted if you have other questions about managing your income and expense transactions in QuickBooks.

I will follow these steps.

Thank you 

I have Quickbooks Premier 2019 for desktop.  I can delete a deposit from the register,but then it becomes available as a payment ready to be deposited.  I  need to permanently delete some deposits.  Also, I  do not have an undeposited funds under my chart of accounts.

Thank you for joining the thread, @keychain36.

Yes, deleting deposits with payments that are deposited under the Undeposited Funds will still become available to the on the Payments to Deposit window. if you wish to remove them from the lists, you may delete them manually. This may affect your invoices thus, I encourage checking your transactions carefully before doing the action.

On the other hand, the Undeposited Funds account is always available on the Chart of Accounts. If it's missing from there, the account may be renamed.

For additional reference about depositing payments into the Undeposited Funds account in QuickBooks Desktop, check out this article.

Post again if you have any other questions. I'm a few clicks away to help. Have a good day!

Users usually match their payment in the QuickBooks software to match that it is the same in their bank records. Further, if they note that the payment in bank record is different they have to add each payment one by one. In such a case it is necessary to delete deposit funds in QuickBooks. The user needs to know the procedure to delete deposit funds in QuickBooks. Get more info. Contact QuickBooks customer support phone number +1-800-788-5999 Now.

How to decide if we need to use transfer or deposit? I am transferring funds between two of our business.

Thank you .

It's my pleasure to help you decide, @vgkish.

In your case, you can use transfer as you're transferring funds between two accounts. You use transfer or bank transfer when moving funds from one account to another.

On the other hand, a deposit is used when you want to put your funds in a bank account.

Furthermore, here's how to transfer funds in your QuickBooks Desktop (QBDT) software:

1. Go to the Banking menu.
2. Select Transfer Funds.
3. Select the bank account that the funds are coming out of from the Transfer Funds From drop-down menu.
4. Then from the Transfer Funds To drop-down, select the bank account the funds are being transferred into.
5. Enter the amount being transferred in the Transfer Amount field.
6. Fill in the needed information and click Save and close or Save and new.

Let me also add this resource that you can use for future your reference: Reconcile an account in QuickBooks Desktop. This link can guide you in ensuring that your accounts are well accounted for.

Tag me in if there's anything else you need help with on managing your accounts. I'd be more than happy to work with you. Keep safe and take care!

Thank you @JasroV . So when I transfer money from one business, do i deposit the same amount in the other business that is receiving this transfer ?

Let me add a few details about transfer and deposit, vgkish.

As @JasroV explained, a transfer is when you move funds from one account to another. By definition, this needs two accounts. While a deposit is when you put money to a bank account. Usually, this can happen with only one account.

If you have transferred money to the other business, you don't need to create a deposit since the money is already on the correct account. For future reference, I've included this article in case you'll want to review and match transactions: Add And Match Bank Feed Transactions In QuickBooks Desktop.

Reach out to me anytime if you have any questions. Please know I'm always ready to help. Have a great rest of your day.