Last Updated on February 16, 2021 by Editorial Staff
Generally, most of the time we reconcile bank statements in QuickBooks Online, but in a few cases, we need to undo reconciliation in QuickBooks Online Accountant. Like, whenever we need to remove an individual transaction from a complicated reconciliation in QuickBooks Online accounting. So it is important to know the procedure to undo reconciliation in QuickBooks Online. Here in this blog, we have provided the complete guide to undo reconciliation and some important information to know it in detail.
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- Reasons & Advantages of QuickBooks Online Undo Reconciliation
- Procedure to Undo Reconciliation in QuickBooks Online
- The End Line
Let’s get into the blog:
Reasons & Advantages of QuickBooks Online Undo Reconciliation
Obviously, we will know the procedure to undo reconciliation in QuickBooks Online, but before that, it is very important to know the reasons, and advantages of the undo reconciliation. If you are an experienced QuickBooks Online user you may have the idea of reasons and advantages. But it will be great information for the new users or those, who are wandering for the solution to undo reconciliation in QuickBooks Online.
Reasons to Do Undo Reconciliation in QuickBooks Online
Here is the list of reasons to do undo reconciliation. Have a look:
- The payment was recorded for an incorrect date.
- A transaction was properly checked off but later was found that it had not been cleared yet.
- The bank reconciliation was forced and now needs to be corrected in a systematic way.
- The bank statement date was entered incorrectly or does not contain an actual date.
Advantages of Undo Reconciling Accounts in QuickBooks Online
- Quickly spot fluctuations in income and respond accordingly.
- Take quick, informed and decisive actions when you see financial opportunities or possible signs of danger.
- Catch unseen bank errors that could cost you money, like a wrong total for deposit with multiple checks.
- Prevention of possible fraud by employees, accounting professionals or vendors.
Procedure to Undo Reconciliation in QuickBooks Online
Don’t worry here we will guide you to undo reconciliation in QuickBooks online accountant with some effective procedures. Now read, and follow the procedure without wasting your valuable time, because QuickBooks Online allows you to undo reconciliation without the need for manually editing individual transactions from within the register.
Steps to Undo Reconciliation in QuickBooks Online Accountant (QBOA)
Here are the steps to undo reconciliation in QuickBooks Online Accountant, but, before that you have to download the attachments that you want to tied to the reconciliation. You will delete these attachments during the undo process. Let’s go for the process:
- In the first step, go for the QuickBooks Online Accountant login.
- After signing into the QuickBooks Online Accountant, visit the ‘Clients’ list.
- Then find the customer and open the QuickBooks Online account.
- Now you can see that, you will be taken to your customer’s company file.
- Here go for the ‘Accounting’ menu, and then select the ‘Reconcile’ tab.
- From the ‘Reconcile’ tab choose the ‘History by account’ option.
- In the next step, choose the account that you need to reconcile and date range from the list.
- From the drop-down list find the reconciliation.
- Open the reconciliation report and click on the ‘View Report’ option, if you haven’t already done it.
- Then review any one discrepancies and make a change your client wants to make.
- Now in the ‘Action’ column, select the arrow option, and then the ‘Undo’.
- At last, click on the ‘Yes’ option and then click on the ‘Undo’ option to confirm it.
That’s it! The reconciliation is now undone.
NOTE: Please be aware that undoing a reconciliation automatically reverses any reconciliation that comes after it chronologically, based on the Reconciled on the date.
How to Undo and Remove Transactions from Reconciliation in QuickBooks Online
Follow the procedure to undo and remove transactions from reconciliation in QuickBooks Online:
- At the first step, you have to review the opening balance, beginning balance, and the ending balance for the account holding transaction.
- If there is any fault in the opening balance, beginning balance, or in the ending balance then fix it.
- After the complete review process, go for the ‘Accounting’ menu to edit the transaction.
- Select the ‘Chart of Accounts’ option from the ‘Account’ menu.
- Then search for the account and click on the ‘View Register’ option.
- Choose the transaction you want to undo reconciliation and review the check column.
- You can see ‘R’ in the column if the transaction is reconciled.
- After that click on the ‘Save’ option and close the register.
- And adjust the reconciliation or enter an adjusting Entry.
- Go to the left menu, and choose the ‘Accounting’ tab for the ‘Reconcile’ option.
- After that, reconcile your account.
- Now from the drop-down menu, click the ‘Finish Now’ option.
- And confirm the adjustment date.
- In the next step, click on the ‘Add adjustment and Finish’ option, and click on the ‘Done’ option.
How to Undo Last Reconciliation in QuickBooks Desktop Edition?
Undoing last reconciliation in QuickBooks Desktop App edition such as QuickBooks Pro or Premier is somewhat different. Thus, if you use any of these QuickBooks editions, we will show you how you can undo last reconciliation in a few simple steps, which are given as under:
- Open QuickBooks and sign in as an Accountant user.
- Select the company file and click Reconcile Now from the Banking menu.
- Click the Undo Last Reconciliation option.
Let’s understand how to undo reconciliation in QuickBooks in detail…
How to Delete Reconciliation in QuickBooks Online Edition
The QuickBooks Online edition reconciles transactions separately and must be reconciled one at a time. Let us show you how this can be done easily.
You can undo reconciliation in QuickBooks Online edition through the steps given below:
- Open QuickBooks Online and choose Registers from the Banking menu.
- Select the account from the Register Name drop-down list.
- Click (or tap if using the touch screen) on the transaction you wish to undo reconciliation for.
- Delete the ‘R’ letter at the top of the transaction in order to change its rank to Unreconciled.
In case you plan to reconcile each transaction for a certain period, it is necessary that you first print a list of reconciled transactions using the Reconcile alternative from the Banking menu.
Why Can’t I Undo a Reconciliation in QuickBooks Online
‘Why can’t I undo a reconciliation in QuickBooks Online?’ This is a common query asked by most of the QuickBooks Online users. Here we want to give the answer to this query to clear the doubt.
Sometimes the users are unable to undo reconciliation in QuickBooks Online because of the invisible of the ‘Undo’ option. If the ‘Undo’ option is not showing on the ‘Action’ drop-down then, maybe you are not using the QuickBooks Online Accountant or the (QBOA) version. In this situation, you can follow the below-given procedure:
- In the first step, you have to go to the ‘Gear’ icon, which will be at the top of the page.
- From there, choose the ‘Chart of Accounts’ option, under the ‘Your Company’ column.
- Now choose the exact account for the transaction.
- In the next step, go to the ‘Action’ column, and click on the ‘View Register’ option.
- Now you have to detect the exact transaction to edit.
- Go to the ‘Reconcile Status’ column, and change the reconcile status by repeatedly click on the top line of the transaction. And then, click the ‘Save’ option.
- C- Cleared
- R- Reconciled
- Blank- Not cleared or reconciled
The End Line
In the above we discussed, how to undo reconciliation in QuickBooks Online, Accountant, and also know how to undo reconciliation of a transaction in QuickBooks Online. We hope after reading and following the above-mentioned steps you will be able to undo reconciliation own self. Further, if you have any kind of doubts regarding this topic, then you can get our ProAdvisor support to clear your doubts instantly.