Note: This procedure requires you to have access to your firm’s QuickBooks Online account.
1. Go to QuickBooks Online
Head to QuickBooks Online to begin.
2. Click on Settings:
Click on the Settings gear at the top of the page to access the list of details, such as Chart of Accounts:
3. Go to the Chart of Accounts
After logging into QuickBooks, you will need to pull up the Chart of Accounts:
4. Enter the Chart
Now scroll down the charts until you are on the Account where you will need to remove the trust deposit. Click View Register to enter the Chart:
Tip: Use the Search field at the top of the page to quickly locate the account you’re looking for.
5. Locate the Deposit in the Client's Liability Account
Find the deposit that you need to undo within the client's liability account. By default this is contained under a parent account titled "Funds Held in Trust":
6. Click on the account to bring up the deposit
Click on the account to bring up the account details and deposit information:
7. Delete the Incorrect Trust Deposit
Once inside the account deposit, you can simply delete the trust deposit that was done incorrectly:
Your trust account in LeanLaw will automatically update with your changes in QuickBooks.
"I need to delete a trust deposit. It was entered incorrectly and I need to change the amount of the deposit."
You can simply delete the trust deposit that was done incorrectly and redo the trust deposit with the correct amount. This article shows how to delete the deposited funds from QuickBooks. Then you can go back to LeanLaw and make the trust deposit with the correct amount.