The QuickBooks accounting program splits incoming payments into two categories: Deposited payments, and undeposited funds. The first category is used for payments that you individually record and deposit into the bank. The second category acts as a holding account for several transactions; it's typically used if you receive small payments throughout the day, such as at a cash register, and then deposit all the money together as a bulk transaction. If you make a mistake or decide not to accept a payment, you can use the Edit menu in QuickBooks to void or completely delete either of these payment types.
Delete a Deposited Payment
View the QuickBooks home page and click the "Record Deposits" icon in the Banking section to display the Make Deposits view.
Click "Cancel" if the "Payments to Deposit" window appears. You do not need this window to delete a payment.
Locate the specific deposit that you want to delete. If you do not see it, click "Previous" until you locate the correct entry.
Select the "Edit" menu, then "Delete Deposit." A warning displays, asking you to confirm the action. Press "OK" if you are sure you want to delete the payment.
Delete a Payment from Undeposited Funds
View the QuickBooks home page. Select the "Lists" menu and choose "Chart of Accounts." You can also press the "Control-A" keyboard shortcut.
Double-click "Undeposited Funds" to display the register for this type of funds.
Select the specific payment that you want to delete. If you don't see it, use the up and down scroll buttons to review the list of transactions.
Open the "Edit" menu, and click "Delete Payment." Press "OK" to delete the the entry after the warning box appears.
If you want to delete a deposited payment but cannot find the transaction, you can use the Search feature to locate it. Click the “Edit” menu and then “Search.” Enter the information you know about the transaction, such as the name or amount. Once you locate the transaction, click “Edit” and then “Delete Deposit.”
If you delete a transaction, the record is completely removed. In comparison, a voided payment stays in your records, but the amount of the payment changes to zero. To void a payment, view the transaction, click the “Edit” menu, and select “Void Deposit.”