Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Need help with 1099's or other Year End topics? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 1

How do I clear/delete undeposited funds from the bank deposit?

 
Solved
Best answer August 21, 2019

Best Answers
QuickBooks Team

How do I clear/delete undeposited funds from the bank deposit?

I have a way to clear the transaction, EileenHess.

 

You'll want to edit the Deposit to account of the recorded payment. This removes the transaction that shows up in the bank deposit section.

 

Here's how:

  1. On the left panel, click Sales and select Customers.
  2. Click the customer's name and look for the payment.
  3. In the Receive Payment page, change the account from the Deposit to drop-down list to any bank account.
  4. Click Save and close.

When you go back to the Bank Deposit page, you will no longer see the payment. 

 

 

To know why some payments go to the Undeposited Funds account, you can check this article: Deposit payments into the Undeposited Funds account in QuickBooks Online.

 

If you have other questions or concerns, please don't hesitate to ask. Have a great day!

View solution in original post

5 Comments
Level 6

How do I clear/delete undeposited funds from the bank deposit?

You can delete the deposit.  That will unlink the payments and you can modify the payments from there to whatever bank acct you wish.
Level 1

How do I clear/delete undeposited funds from the bank deposit?

I cannot delete a deposit, or a payment from a deposit that is waiting to be recorded. If I deposit the funds and then delete the deposit, it puts the payment back into the "Record Deposits" status. I cannot delete the payment until the deposit has been deleted, and there is no way to delete the deposit. If I try to void the deposit, it just makes a zero voided deposit and leaves the one I am trying to delete in the system.

QuickBooks Team

How do I clear/delete undeposited funds from the bank deposit?

I have a way to clear the transaction, EileenHess.

 

You'll want to edit the Deposit to account of the recorded payment. This removes the transaction that shows up in the bank deposit section.

 

Here's how:

  1. On the left panel, click Sales and select Customers.
  2. Click the customer's name and look for the payment.
  3. In the Receive Payment page, change the account from the Deposit to drop-down list to any bank account.
  4. Click Save and close.

When you go back to the Bank Deposit page, you will no longer see the payment. 

 

 

To know why some payments go to the Undeposited Funds account, you can check this article: Deposit payments into the Undeposited Funds account in QuickBooks Online.

 

If you have other questions or concerns, please don't hesitate to ask. Have a great day!

View solution in original post

Level 1

How do I clear/delete undeposited funds from the bank deposit?

What if has already been reconciled?

Also will it cause the reconciled deposit to be out of balance? 

I believe the undeposited funds account may have been effected by Qbooks audit team during transition from desktop to online. 

 

 

Thank you for any feedback 

QuickBooks Team

How do I clear/delete undeposited funds from the bank deposit?

I'm here to share details on how a reconciled deposit affects your account balance when deleting one in QuickBooks Online (QBO), @benappy. This way, you'll be able to determine the best action you need to take care of the issue.

 

When you delete a reconciled deposit, it'll cause a great impact on your account. It'll surely become out of balance. This is because your transactions for a specific month won't be intact and will show that they aren't matched with your bank statement.

 

During your transition from QuickBooks Desktop (QBDT) to QBO, there may be some of your lists and reports that weren't converted because of feature differences. You'll see that all your reconciled transactions in the register will have an “R” in the cleared column in QBO. To learn more about this, kindly check out this article: What to expect when you switch from QuickBooks Desktop to QuickBooks Online.

 

In case you still want to delete a reconciled deposit, you'll have to open your account register and perform the process from there. Before doing so, I'd recommend consulting your accountant. This is to make sure your books are accurate and monitor your deposits accordingly. Here's how:

  1. Go to the Accounting menu.
  2. Select Chart of Accounts.
  3. Find the account then, click View register under the Action column.
  4. Click the reconciled deposit to open its details.
  5. Select the Delete button.
  6. Click Yes to confirm.

 

You can make sure your financial data are accurate by pulling up the Reconciliation report. This will also let you access your individual reconciliation reports and check their accuracy. Just go to the For my accountant section from the Report menu's Standard tab.

 

Please let me know if you have other concerns. I'm just around to help. Take care always.

Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us