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[NEW] How to void a Check in QuickBooks?

QuickBooks is a fantastic accounting software dedicated mostly toward small and medium sized businesses. There are many benefits of using QuickBooks, but also there are many options and possibilities many people still need to learn to take their businesses to the next level.
We selected the most common questions people ask when they need help on using the QuickBooks. The most “Googled” questions are “How to void a check in QuickBooks” and “How to delete a Deposit in QuickBooks”, but some are also relatead to printing (How to reprint checks in QuickBook) or issuing a refund (How to issue a refund in QuickBook). Let’s start from voiding a check.

You just managed to close your books and all taxes are done, but you suddenly realize that one check needs to be voided. It’s also possible you wrote a check before you double-checked your bank account balance. Now you are in danger your check might bounce due to insufficient funds. You really don’t want to deal with the embarrassment after bounced check, not only it could be bad for business, but you don’t want to let your vendor deal with an extra fee. And you also want to avoid paying the penalty to your bank. That’s why is very important to know how to void a check in QuickBooks.

BONUS TIP: If you are also wondering how to delete a payment in QuickBooks, you can check it out HERE.

How to void a Check in QuickBooks

What does it mean? A voided check means that you are canceling that transaction. When you decide to void a check, the record remains in QuickBooks Online account, but the amount is now set to zero.
You wanted to know “How to void a Check in QuickBooks”. It’s not very difficult to do that. You can use the QuickBooks Void Check or Delete Check option. This procedure is recommended for almost all check reversal transactions.

Voiding Checks in QuickBooks

You can void the check by following instructions below, but just in case if the check has not been cashed and it wasn’t in your previous reconciliation.

From the left menu click ACCOUNTING ✅
You need to select CHART OF ACCOUNTS ✅
Find and click the bank account with the check you want to void. Pick VIEW REGISTER ✅
Find the check you need and click on it to highlight and select EDIT ✅
You need to clik MORE (on the bottom center) and pick VOID ✅
Just confirm you want to void the check and that’s it ✅

My check was included in a previous reconciliation

In case of previous bank reconciliation, to void that check, you will need to undo that reconciliation. After you do that, you can proceed with the instructions above in order to cancel the check.

How to delete a Deposit in QuickBooks

It is really important to know how to delete deposit in case you want to void or delete any of payment types in QuickBooks.
Many people are asking how to delete a deposit in QuickBooks and the answer is not difficult.

You have to check your toolbar and find EDIT ✅
Click on DELETE DEPOSIT ✅
If there are multiple lines in the deposit and you only need to fix one entry, you have an option to delete a single line with the command DELETE LINE. After that you can UPDATE the deposit and you will see correct transaction. ✅

How to issue a refund in QuickBooks

Another thing the people are asking is how to issue a refund in QuickBooks. If you need to return the money to your customer, just follow these instructions. Here’s how to issue a refund in QuickBooks.

Click on + NEW and REFUND RECEIPT or GIVE REFUND ✅
Find CUSTOMER from the dropdown menu ✅
Click on the REFUND FORM dropdown and find a bank you picked for that transaction ✅
In the PRODUCT OR SERVICE column you have to add everything your customer returned ✅
Fill all the necessary details like rate, quantity or tax. SAVE and CLOSE. ✅

How to reprint checks in QuickBooks

You can reprint any check or sales form from QuickBooks whenever you need. Find the magnifying glass icon (top of the page) and click it. Enter your transaction number, date or amount, to find the check you want to reprint.
If you want to know how to reprint check in QuickBooks follow the steps below:

Select REPORTS (left menu) ✅
Find CHECK DETAIL report ✅
Select the check you would like to print ✅
Choose PRINT CHECK ✅
When printing just make sure the Starting Check #: field has the desired # ✅

How To Write Off Bad Debts in QuickBooks?

One of the most searched question related to the QuickBooks is “How to write off bad debts in QuickBooks?” Let’s start from the beginning. Bad debts refer to the situation where a QuickBooks customer fails to pay off their bills needed; therefore, QuickBooks contains the feature to write off bad debts to this customer type.

They will be blacklisted in that they will never be entertained by any company in the future and will pay for the penalty for the same immediately the writing off bad debt in the short book is issued.

Bad debt can also be referred to as the total amount that a company or a business cannot recover from people who owe them, and for one reason or another, they are not in a position to pay back. Issues of debt can affect the company’s loss and profits when reconciling the accounts in QuickBooks. It is crucial to write off bad debts and have bad debt accounts to avoid difference in the income statement, loss and profit reports.

It is crucial to write off bad debts in QuickBooks online that always makes sales on credits such as finance companies needs managing a different bad debt account to write off bad debts that cannot be collected. You can do away with the invoices from the account receivable, which helps you get the right net profit total in QuickBooks by writing off bad debts in QuickBooks.

How To Write Off Bad Debts in QuickBooks?

Writing off bad debts in QuickBooks has several advantages, including;

You will be able to clear all the invoices from the account receivable, resulting in a net profit amount.
You won’t have mistakes in the income statement and profit and loss reports.
Invoices become collectible when you record a bad debt.

Method for how to write off bad debts in Quickbooks

As we said at the beginning, at some point many users were wondering “How to write off bad debts in QuickBooks?”. It involves systematic steps that include:

Examining the Aging Report. You will first click on the report section from the left side panel in the QuickBooks.
Check for the Account Receivable Aging report and you will find it at the top – in the search bar.
To view your outstanding receivable account, you have to click on the accounts receivable aging information report.

1. Make an account for bad debt expense.

Select a chart for an account by going to the company section and selecting the accounts option chart.
Before proceeding, you select an option.
Pick on the expenses option by going to the account type and drop-down list option.
Select debt in the name field from the drop-down list and offer a name to bad debts.
You end the whole procedure by clicking on the save and close option.

2. Make a bad debt item·

Go to the list area and click on the gear icon, select the product and services option.
Select the non-inventory products and new product and services information sector.
Within the textbox, type the word bad debt.
Choose bad debt expenditure which you have made in the income account section.
Go on to mark the “is taxable” check box.
Finalize by clicking on the save and close option.

3. Set up the credit memo.

Click on the plus icon after logging in to the QuickBooks Dashboards.
Head to the customer section and click on credit memo.
Select customer from the customer drops down the list.
Choose the item you have designed for the bad debt in the product and services area.
Now you should write the amount of bad debt or unpaid invoices with positive values.
Type the bad debt amount in the memo text box.
Select the save and close option to finalize the step.

4. Access a bad debt report.

Reach to get payments from the customers, and you will go to the top of the screen and click the + icon and move to receive payment from the customers’ sector.
Head to the customer drop down list and select the customer.
Choose an invoice that you want to write off from the outstanding transaction.
Select the credit memo under the credit area.
Do the check and ensure the available amount in the section should be $0.00.
Finalize by clicking on the save and close option to complete the procedure.

QuickBooks is among the famous accounting packages for every type of business. It is beneficial to any individual working as an accountant, manager, or even an administrator. QuickBooks functions in various ways, including;

Invoicing and sales management – you will manage sales and income by making invoices and keeping a sales record for every client. Account Receivable Aging Report offers a list of customers and the invoices you have created for them.
Tracking bills and expenses – after your employer has linked the business bank and credit card accounts with the QuickBooks system. It keeps track automatically of the expenditures. An account payable report will indicate the bills you are supposed to pay at the specific time.
Reporting – you can easily weigh your company productivity and stability via built-in reports that you can create within a short time. A profit and loss of information offer an overview of how profitable a business is. On the other hand, a balance sheet report compares assets, liabilities, and equity.
Payroll management – you will be able to pay your workers through direct deposit or using a cheque. The system will also make you automatically handle federal and payroll taxes and fill the form for you.
Inventory management – the system automatically updates inventory information as you key in transactions and offers several reports so you can remain updated with the status of your products.

QuickBooks tutorials is a learning site that gives tutorial videos on significant tasks. Tutorials can be accessed and are short, with many videos lasting for one to three minutes. Individuals can access tutorials and webinars on different QuickBooks functions such as invoicing, sales, taxes, accounting, and inventory.

In summary, when a client fails to pay off debt for the company, the original invoice goes unpaid. Bad debt makes it hard to reconcile your accounts and make accurate reports. You should always create an account before recording a bad debt for the sake of tracking such types of transactions. By doing this, you can use the discounts and credit options found in QuickBooks to write down the debt while maintaining the debt in an organized way in a different register for tax purposes. Do not record your bad debts in your regular customers register to avoid difficulty in tracking the debts.

Conclusion

I hope you found the answer on your question “How To Write Off Bad Debts in QuickBooks?” and if you want to check for some other QuickBooks common issues and solution, please check the topics How to Change Beginning Balance or How to delete a payment in QuickBooks.

How to Change Beginning Balance in QuickBooks

Before I show you how to change beginning balance in Quickbooks, let’s start with some facts. Adding accounts to QuickBooks is so easy, but the fact that adding it is easy and straightforward can be a bit misleading, especially if you put the number in the wrong account. For this reason, it is always advisable to consult a professional to help you. If you make a mistake placing accounts, correcting errors in QuickBooks can be a long process.

Note that why it is more difficult to change opening balance for QuickBooks Online is because the beginning balance is entered automatically when you download transactions from your bank’s online platform. However, if you want to know how to change the opening balance in QuickBooks Online, you can correct the beginning balance through the chart of accounts.

Merge your accounts with bank statement

Also, note that your balance sheets and reports will not keep accurate records If the beginning balance is not corrected in QuickBooks. After the correction, try to merge your accounts with your bank statement to ensure that all transactions have been processed correctly.

Before showing you how to change beginning balance in QuickBooks, you should also consider the following factors which are listed below:

Before changing the beginning balance in QuickBooks, it means the existing opening balance is incorrect.
If an account has been created with no opening balance, one must be added before changing the beginning balance in QuickBooks
Before changing the beginning balance in QuickBooks historical account information must be reflected.

If the existing QuickBooks Online account is incorrect

The first step is to identify the account in (COA) known as Charts Of Account and then run a report of “All data on account”. Once this is done the “first registered deposit” is noted as the opening balance. To continue, enter a new beginning balance in the space provided for a date. To achieve this,

Click on Add Funds, to allow deposits.
The next step is to input the new account balance in the column created as “Amount”
After that, you can save and close

However, if an account is missing from an opening balance. How do I add one? There are three options

First, create a new bank account and add the old one that will reflect the new starting balance.
The next step is to use the equity from the original balance to fund your bank account.
The final step is to input an entry that “debits your bank account and credits your beginning balance”. If this is done the account missing would reflect.

How to change opening balance in QuickBooks in 6 steps

If the opening balance for QuickBook is incorrect, to edit or correct you can open the general ledger for that account and correct it in the chart of accounts.

Steps to change beginning balance in QuickBooks are liste below:

Step 1: sign in to the QuickBooks Online platform with your credentials, once you log in click the Company and Chart of Accounts tabs.
Step 2: Click the account name you use to register in other to highlight the account.
Step 3: Click on “Report”.
Step 4: Update the Transaction Date field to “All Dates”.
Step 5: Once you’ve updated the transaction date field, you can run the report.
Step 6: This is the final step, find the deposit with the opening balance in the description field. Click on the transaction and edit or replace the dollar amount with the correct opening balance. Then click on “Save”.

QuickBooks Online software is an accounting software platform that is built functionally to track inventory, business expenses, and customer data. Before QuickBooks Online removes an incorrect opening credit, QuickBooks Online would displays warnings and errors. This is why it is very important to know how to change beginning balance in QuickBooks.

There could be discrepancies between actual bank balance and QuickBooks reports, where there is an incorrect transaction entry, missing debits, and credits, or incorrect opening balance. Hence, it is very important to correct when such situations arise.

How to correct the QuickBooks Online opening balance

To correct the opening balance of QuickBooks Online, you need to adjust the opening balance when creating the accounts. You should also change the closing balance or correct the totals if an incorrect transaction has been entered. If you fix these issues, run the reconciliation report to update the changes.

Steps to Correct the Opening Balance in QuickBooks Online

The following steps can help reflect the correct scale.

In the first step, click the Company menu and Create General Journal Entries.
Then enter the correct date and unit for the opening balance before you save.
After you save, you can proceed to click on Reconcile after opening the bank menu.
Proceed to account in the drop-down menu and enter the account with the incorrect opening balance.
Follow up on the report date and select the date that corresponds to the journal entry you created earlier. Then click on the final balance and enter the final balance in the same way.
Click on the Deposits and other credits section and then proceed to Journal Entry.
Then synchronize now to correct the QuickBooks online opening balance

How to correct the final balance and reconcile the accounts

In the first step, click on the Bank menu and select Reconcile.
Select the account with the wrong closing balance or the transaction to be reconciled.
Click on the final credit field and enter the exact final credit
Now you can update the registered balance
In the Deposits section, select all of the items that correspond to the bank statement.
Compare now when you have set the transaction indifference to zero.
After this, go to the Bank menu and click on Register.
Select Account and then click the account with the wrong balance in the drop-down menu.
Click on the items whose amount does not match the bank statement. If you want to change the amounts, select Edit deposit, or, if you want to delete the transaction, select Delete deposit.
Click on the Window menu and click on Reconcile – Account Name.
On this final step, make sure the new registry entry matches the bank statement. If it matches then click Sync Now. These steps will help correct the final balance and reconcile the accounts

Conclusion

We hope we helped you to find an answer on how to change beginning balance in QuickBooks issue and advise you to check these tutorials if you also had issues with deleting a payments in QuickBooks and voiding a checks in QuickBooks.

How to delete a payment in QuickBooks

One of the most frequent questions related to this software is “How to delete a payment in QuickBooks?”. We will guide you through the process and we will resolve that issue together in several minutes.

When running a company or business, it’s essential to keep the books updated. At times you only have to correct a few errors or perhaps delete some entries like payment. Through the QuickBooks accounting tool, all this and much more is possible. Furthermore, it’s renowned software used globally for financial accounting. It allows you to not only receive payment without invoice but also with.

With this software, you can manage and track all your business transactions at ease and effectively. It’s a handy tool especially if you are running a small or medium-sized business. This tool’s striking features include bank transactions, payroll, calculates taxes, and a friendly user-interface.

In accounting for your business transactions, there are two main payment categories: the un-deposited and deposited funds/payment. It is essential to know how to delete either of these modes of payment. In this case, we will have a look at how to delete a payment in QuickBooks. So let’s start:

How to delete duplicate payments

Duplicate payments are a common occurrence in QuickBooks while entering payments. They are often accidental and would mess up your calculations while balancing your books. But if you notice it, you can rectify this by deleting one of the duplicate entries. But to do this effectively without messing your books, you need a well-structured plan.

Start by opening the QuickBooks, and then click on the business file you want to open.
Once the file opens up, look for the ‘Banking menu’ and click it, from the list of options, click ‘Make a Deposit’.
After that locate the line with duplicate payment and click it.
Choose the edit option, and from the dropdown list, click ‘Delete Line’ to remove the duplicate payment.
Afterward, click ‘Save’ to keep the changes.
Thereafter, click the ‘List’ menu and from the dropdown options, pick ‘Charts of Accounts’.
Through un-deposited payment, open the account register and select the duplicate payment. Click edit and then pick delete to remove it.

How to delete payment deposits

Visit the QuickBooks website and on the command bar, look for a record icon. Click to open the deposit records under “Banking”.
When “payment to deposit” pop up, cancel it and move on.
Then select the payment deposit you want to remove from the QuickBooks entries.
Once you’ve selected it, click edit and then delete
Confirm your move with ‘Ok’
To finish up, click save and opt-out.

DID YOU KNOW: One of the most common issues for the users is changing the beginning balance in QuickBooks. If you also had trouble with the same problem, you can check for the solution in our tutorial for chaning the opening balance.

How to delete un-deposited funds payment

Opt in to your account in QuickBooks using your details
Pick “Lists” and under it, choose “Chart of Accounts
From the list of options pick “Un-deposited Funds”
From the dropdown option click “Amount” and select “Delete Deposit”
To confirm this, press” OK” for deletion.

Online Customer Payment deletion from QuickBooks

If it’s the client payment, there are a few simple steps you can follow for a successful payment deletion from QuickBooks. To begin:

Sign in to your account on this platform. On the command bar, click “Customers”
Thereafter, pick “Customer”
Once you can view all your payments on the window, select the specific payment you want to eliminate.
To remove it, look for “More” on the Payment window and press delete.

Recovery of Accidentally deleted Deposit in QuickBooks

Accidentally, you may end up deleting the wrong entry when removing an error in the QuickBooks. But do not worry; you can quickly recover the lost data with a few steps. To start:

Open the QuickBooks official page and click ‘Create’
Thereafter, choose “Bank deposit” under its options, pick ‘select existing payment’
Go through the current payment and then create again the lost entry

Therefore, when it comes to all matters related to payments, clear payment, and tax payment, among others, QuickBooks is the best solution. Through this platform, you can balance your company’s financial books effortlessly yet effectively.

Additional Tips on how to delete a payment in Quickbooks

How to fix the un-deposited funds errors in QuickBooks

The errors from Deposits that are not displaying the un-deposited funds can result in an incorrect amount. Luckily, you can fix this with a few steps:

Confirm whether the following options are accurate

Ensure you are using accurate or correct locations if you are using this function.
For those employing multicurrency functions, ensure the currency field is set accurately.

Once you are certain the above information is accurate, eliminate any cache issue

And this can be done correctly through the following ways:

Use any private browser to sign-in into your account and then review the deposit window of the bank.
If you can view the sales receipt, then you need to delete the storage cache of the browser you’ve been using.
Furthermore, you can choose to use other compatible browsers when necessary.

FAQ

Q. Can you work without an invoice when recording deposits?

Every record of the QuickBooks’ deposits plays a vital role when it’s time to reconcile the accounts when the month ends. There is more than one option to note down deposits on this platform. But making deposits without invoice in this platform is still unclear to many users. “Can you work without an invoice when recording deposits?” In this case, we’ll have a look at how this is possible through simple solutions. Let’s have a look at the following steps:

Opt-in QuickBooks official website and sign-in into your account. Look for “Banking” at the panel and click it. From the list of options pick “Make Deposits”.
From the window that opens up after clicking on “Make deposits” look for ‘Deposit To’ and click it.
From the dropdown list pick the specific account to deposit the payment
In the field, key-in the Date
Then key-in the Memo even though it’s optional
Incorporate the number of deposit payments. What’s more, it’s important to know that the total amount of deposited payment is the Deposit amount.
Once you are through, pick ‘Save &Close” and you are done.

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