Hi there, @CyberSpyder. I got here some clarifications so you can manage your client's payments in QuickBooks Online (QBO).
For your first question, yes, you can cancel/void the deposit in order to cancel/void the created sales receipt if this is deposited under the Undeposited Funds account. No, if the sales receipt is directly deposited to the bank account.
Regarding your second concern, no, the canceled/voided sales receipt will not become a credit to the client's account (since the whole transaction with the amount is already deleted). You can manually create a credit memo to add the amount as a credit to your client's account instead. Here's how:
- Click the + New menu and select Credit Memo.
- Next, in the Customer dropdown, pick the customer's name.
- Then, enter the credit memo details, such as the date and the amount.
- When done, select Save and Close.
For additional reference in managing your customer payments, check out this article: Take and process payments in QuickBooks Online with QuickBooks Payments.
It's also easy to locate those customers who have outstanding balances in QBO. To do so, you can run an Accounts Receivable Aging Summary report.
I'm just around the corner to provide additional help if you have other concerns processing your customer's payments. Have a good one, and stay safe.
