Reverse a Deposit

Hello there, @ExoticBengal.

In QuickBooks Desktop (QBDT), deposits can be removed using the Make Deposits window. When removing the deposit the payment will be removed as well if you are using an Undeposited Funds account. If you plan to deposit the funds at a later time, you can recreate the original payment. However, if you're not using the Undeposited Funds account and plan to make the deposit later, you can leave the original payment for the deposit intact. Otherwise, make sure to manually delete the payment as well.

Here's how:

1. Go to the Banking menu, and then select Make Deposits.
2. Click Cancel if the Payments to Deposit window opens.
3. Select the Previous arrow to move the transactions until you find the deposit or payment that you want to remove.
4. Select the Edit menu, and then Delete Deposit.

For the Undeposited funds:

1. Go to the List menu, and then select Chart of Accounts.
2. Double-click on Undeposited Funds.
3. Select the deposit you want to delete.
4. Click the Edit menu, and then Delete Payment.

You can also read through this article about undeposited funds: Understand how the Undeposited Funds account works.

Don't hesitate to drop a comment below if you have other questions. I'm always here to help. Take care!