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Remove a negative entry from the Payments to Deposit screen in QuickBooks Desktop

Since QuickBooks Desktop will not allow a negative deposit, the resolution for this issue will depend on whether or not a refund check has already been created in QuickBooks Desktop.

Detailed instructions

To remove a negative entry from the Payments to Deposit screen in QuickBooks Desktop that was created by a return or receipt reversal in QuickBooks Point of Sale for Desktop, follow one of the options below:

If a refund check has already been created and is in the checking account register:

  1. Create a backup of your QuickBooks Desktop company file.
  2. Create a journal entry debiting the Undeposited Funds account and crediting the checking account for the negative amount that is in the Payments to Deposit window. Set the date to match the date of the original check and enter the customer name in the Name field. Enter POS Refund in the Memo field and click Save.
  3. Open the checking account register and verify that the journal entry matches the all the information on the original check and then void the original check.
  4. In the Select Payments to Deposit window, select both the positive and the negative entry and deposit them.
  5. Click Save and Close.

  6. NOTE: These transactions remove the negative entry on the Payments to Deposit screen while keeping the payment in the checking register.

 

If a refund check has not been issued:

  1. Choose Lists > Chart of Accounts.
  2. Right-click the checking account and choose Transfer Funds.
  3. Transfer funds from the checking account to the Undeposited Funds account, entering the amount equal to the negative deposit. This will offset the negative amount and create a balance of zero.
  4. In the Select Payments to Deposit window, select both the positive and the negative entry and deposit them. Click Save and Close on the Make Deposits window.
KB ID# HOW12209
12/6/2016 8:02:30 AM
QYPPRDQBKSWS09 9138 Pro 2017 a71ec3