Emergency

Hello Clover7! I'd like to share some useful insights on journal entry-related topics in QuickBooks Online (QBO).

Negative value transactions may appear in Undeposited Funds and appear on the Bank Deposit screen, such as when a customer refund is issued from Undeposited Funds.

To create a Journal entry and offset the value of a negative deposit in Undeposited Funds, follow these steps.

Create a Journal entry:

1. Select + New.
2. Under Other, select Journal Entry.
3. Enter the transaction date in the Journal date field.
4. On the first line, in the Account column, select the Undeposited Funds account.
5. In the Debit column, enter the single-line deposit amount.
6. On the second line, in the Account column, select the bank account.
7. In the Credit column, re-enter the single-line deposit amount (if it does not already appear).
8. Select Save and close.

Offset the negative value:

1. Select + New.
2. Under Other, select Bank Deposit.
3. Select the payment and the Journal Entry you created. The total should be zero.
4. Select Save and close.

Furthermore, deleting journal entries can affect financial records and statements' accuracy. I highly recommend, consult your accountant or financial advisor to ensure appropriate deletion without unintended consequences.

Also, it's a good idea to keep a backup of your QuickBooks Online data before making any significant changes like deleting journal entries. This will allow you to restore your data if needed.

Additionally, you can refer to these articles to get more insight and information:

• Reverse or delete a journal entry in QuickBooks Online
• Print a journal entry report in QuickBooks Online
• Undo or remove transactions from reconciliations in QuickBooks Online

If you have any further questions or need additional assistance on accounting-related topics in QuickBooks Online, please don't hesitate to leave a comment below. I'm always happy to help. Have a great day!

@Clover7 

You can use a deleter tool

https://get.transactionpro.com/qbo

@Clover7 

You can't make them "disappear" because those entries have been used in producing the company's financial statements since 2022.  The only option is to reverse the entries in 2023/2024.  Reversing the entries is a normal part of correcting accounting errors.  Deleting them will change the previously-closed periods and an auditor would catch that in two seconds.