QB Issue Resolution:

You can delete the payment through the Chart of Accounts tab.


Here’s how:

  1. On the upper left, click the Lists tab, then choose Chart of Accounts.
  2. Double click the undeposited fund accounts.
  3. Double click the payment.
  4. In the payment window, click the Delete button.
  5. Choose Yes to confirm the action.

You can reach out to your accountant if there’s a need to adjust the balance since the payment was entered in a prior year.

Resolution for Issue 'Reversing a payment recorded in a prior year in error' available: Yes (Solved).
Source: Intuit Community forum.

Reversing a payment recorded in a prior year in error: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for Balance
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Error Recovery for Balance [Canada]
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