How to Delete and Void Transactions in Quicken 2010
You can delete and void register transactions by using Quicken's Edit button’s Delete and Void Transaction(s) commands. Using either command is a snap: Just select the transaction you want to delete or void, then click the Edit button and select the appropriate command. And that’s that.
Use the Delete command if you want to completely remove the transaction from your register.
Use the Void Transaction(s) command any time you void a check. Quicken leaves voided transactions in the register but marks them as void and erases the Payment or Deposit amount. So by using the Void Transaction(s) command, you keep a record of voided, or canceled, transactions.
When you mark a transaction as void, Quicken does three things:
Sticks VOID in the start of the Payee field
Marks the transaction as cleared
Erases the amount in the Payment or Deposit field
If you later fill in the Payment or Deposit field and don’t pay attention to the warning from Quicken that you’re editing a reconciled transaction, Quicken uses the payment or deposit amount that you enter to adjust the account balance — even though Quicken still shows the transaction as void.
The bottom line is that you need to make sure that you don’t edit transactions after you void them. Otherwise, you can all too easily foul up your account balance — perhaps even overdraw your account. And that's definitely something you want to avoid.