Below we have provided you with some convenient steps to delete or void a Payment, Invoice, Sales or Refund from QuickBooks online.
• Void = Voiding a transaction, reserved the transaction number. In this way, all amounts are zeroed, but any memos, attachments or notes remain visible in your system. This should be used ONLY to cancel a payment before settling it (sent for processing).
You should only void something under the following conditions:
o The merchant wants to stop a payment transaction from being batched/settled and sent for processing. By “voiding” it, the merchant can avoid transaction fees if the merchant takes this action before you’ve batched the original sale.
• Delete = Deleting a transaction allows the transaction number to be reused but no record of the transaction will remain in the system, other than the audit log. This action will ONLY delete the accounting object inside QBO, and WILL NOT impact the actual transaction. Doing this will not stop the processing of a transaction.
o This function deletes the “Receive Payment” or “Sales Receipt” from inside QBO…it deletes the entry…but has zero impact on the actual transaction.
Here are some other useful tips to know about Voiding / Deleting entries in QBO:
- QBO uses deposits that are already in your books to determine if a payment can be voided. You can determine if a payment can be voided based on whether there is a deposit already in your books.
2. Any void request, sent from QBO, that are for payments that have already been patched…get re-classified as a “refund” request on the Payments Account.
- Sign in to your QuickBooks Online company file.
- Select Transactions from the options on then click the Sales option.
- At list of transactions appears starting with the most recent. Select the transaction you wish to delete or void.
4. When the transaction appears, click the More button at the bottom.
5. Select whether you wish to Void or Delete the transaction.
6. A pop-up appears asking you to confirm the action. Click Yes if you are sure you want to perform this action to complete the process.
Check this out while you wait!