A Detailed Account on How to Delete Transactions in QuickBooks

Before we start to answer this question, some basic questions need answers!

So, what exactly is a QuickBooks and what is its purpose?

We will go to the next step when we have found our basic information about QuickBooks.

What is QuickBooks Online?

QuickBooks Online by Intuit is popular online accounting software that is being used by many small and medium-sized businesses. It had a desktop version that was dropped by the company after 31 May 31, 2021.

QuickBooks can be a useful tool to manage your household accounts as well. You can effectively use this software to handle your income and bills.

This software allows companies to manage all financial aspects of a business. It automates various aspects of your business. Here is a small list of features of QuickBooks that make it the go-to software for book-keeping.

  • Keeps track of daily transactions
  • Generates inventory list
  • Calculates taxes
  • Makes and updates contacts list
  • Prepare your company’s financial statements
  • Create reports for budgeting
  • Calculates hours and prepares employees’ payrolls

QuickBooks Online Vs QuickBooks Desktop

There is one major difference between these two products. QuickBooks Online is cloud-based and needs access to the internet for working whereas you can use QuickBooks Desktop after you download and install the software on your desktop computer. The desktop version of QuickBooks is soon going to be discontinued but the online version is still here and will continue to be of service to small businesses.

How to Use QuickBooks Online?

 In this segment, we will discuss how to set up QuickBooks for your business. You need to share some personal information to get QuickBooks working. It is mandatory to share:

  • Your name
  • Address
  • Tax ID number
  • Company’s financial statements

After the initial information, you need to set up your company’s file. After launching the program you will be given an option to use the EasyStep wizard. Use this wizard to get you through the setup procedure effortlessly.

After you have created your company file, you can use QuickBooks’ various features to do the various accounting tasks.

How to Delete Transactions in QuickBooks Online?

Now, we come to the actual question of this article: how to delete transactions in QuickBooks. 

Sometimes you create a transaction by mistake. You need to delete it properly so that it does not affect your overall account balance or your financial reports.

There are two ways to get rid of a transaction. You can either delete a transaction or void it. By voiding a transaction, it will not be included in your account balance or reports but will remain in your accounts for any future reference.

Many users face the problem of deleting or voiding the transactions so this issue must be answered in detail. For your ease, we have divided this question into various components to give you all the necessary information. Let us go through all the solutions one by one.

  • How to Delete Transactions in QuickBooks?

At a time you are allowed to void only one transaction. This reduces the chances to make a mistake. Also, this change to an account is permanent so decide carefully. After you have decided whether to delete or void a transaction, follow the following steps:

  • From the menu select Expenses or Sales
  • Look for the transaction you want to delete
  • Open the transaction and review
  • Add a note to Memo for additional details
  • Select Delete or Void from More
  • To confirm select Yes
  • How to Delete Duplicate Transactions in QuickBooks?

Let us suppose you have a duplicate banking transaction in your For Review tab. You can delete the duplicate transaction as follows:

  • Select Transaction or Banking from the menu
  • Select the account which has duplicate entries
  • Tick the duplicate transactions in For Review tab
  • A box will show the selected transactions. Select the Exclude tab
  • Now select the Excluded tab. Tick the boxes at the left side beside the Date column
  • Then select Delete to get rid of the ticked transactions permanently
  • How to Delete Multiple Transactions in QuickBooks?

Sometimes there are multiple entries that you want to delete.  At the moment QuickBooks has a batch delete option available for only banking transactions. 

To get an idea of how to batch delete transactions in QuickBooks Online follow the instructions given below to batch delete transactions:

  • Select Banking from the menu
  • Select the account. Then open For Review tab
  • Mark the transaction that you want to delete
  • Click the Batch actions tab and then click Exclude Selected
  • Tick the transactions to be deleted once again
  • Click the Batch actions tab. Click Delete
  • How to Delete All Transactions in QuickBooks?

There are chances that you would want to delete all transactions in QuickBooks and start all over again. We have a better option for you instead of deleting everything and starting again. You can import and export data to and from QuickBooks if you want to create a file for a new company.

But if you are convinced that deleting all the transactions is what you want then it has some simple steps. Suppose you want to delete all invoice transactions. Here is how to do it:

  • Click customers from the top menu
  • Then click Customer Center
  • Select Transactions then choose Invoices
  • Open transactions one by one and click the Delete button
  • On the pop-up window click OK to confirm

Final Thoughts on QuickBooks

QuickBooks is a great tool to get your business streamlined. It keeps a check on all your financial transactions and allows quick access to your accounts.

QuickBooks keeps updating this tool with exciting features for the benefit of its users. To ensure the smooth running of your business, do experience this tool and take advantage of its exceptional consumer support in case of any difficulty.