In the course of this article, we will be looking at the practical guide on how to delete a transaction on Quickbooks.
Quickbooks is non-arguably one of the best accounting software for small businesses and individuals. It can be used to manage your personal income, expenses and even help an individual track the financial health of their small business.
They have a large customer base with persons who make transactions or keep track of already made transactions on a daily basis. Most times, some people want to delete a transaction on Quickbooks, but don’t know how to go about it. If that is why you are here, we got you covered.
Guide On How to Delete a Transaction in Quickbooks
When on the QuickBooks official website, Click on Banking, then go to Banking.
- The next step is to choose the bank account where you want to
- Delete the transaction, then go for the Review Tab.
- Up next select the financial transaction that you would like to exclude
- On the Excluded Tab choose the financial transactions that you want to delete.
- In the user interface click on Batch actions, then select
- The next prompt you see will ask you whether you are sure you want to delete the transaction as the procedure will be unrecoverable.
When Do You Need To Delete A Transaction On Quickbooks?
It is important for a Quickbooks customer to note that there are moments when a transaction cannot be voided. Examples of such transactions include; deposits, estimates, supplier credits, purchase orders, delayed charges, or bills. In any of the above-listed transactions, if the financial transaction had an error in it, you will need to delete it, since it cannot be voided.
Before you delete a transaction in Quickbooks, make sure that you don’t need the record for a transaction that you want to check in the future before making the decision of deleting. The reason for this is that when the deletion is made, it cannot be recovered.
The financial transaction will disappear from the books of accounts. Even if you try to extract some details with the audit logs, the transaction details will not be full details.
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Voiding A Transaction On Quickbooks, An Alternative To Deleting A Transaction
Sometimes it is better to void a transaction instead of deleting it. The reason for this is that when you void a transaction in Quickbooks, it does not disappear entirely. Voiding also does not have any impact on your ledger book balances.
On Quickbooks, you can always make reference to the transaction that you voided rather than the one you permanently deleted.
Conclusion
As a business owner, you are faced with day-to-day transactions that have a monetary impact on your business. Sometimes an error can occur and you have no choice but to cancel it. We hope that this practical guide will help you get through the process of deleting a financial transaction you no longer need on the Quickbooks platform.