QuickBooks Online offers financial flexibility to its users and other accounting tools to manage their businesses. One of its key features is bank reconciliation, which ensures the bank statement matches the QuickBooks and credit card transactions. But in some cases, you may want to edit or 'undo Bank Reconciliation in QuickBooks.'
You can change a single transaction or simply undo the entire reconciliation in QuickBooks. In this blog, we are discussing how you can undo the entire reconciliation and edit a single transaction. Now, let's dig into this guide to undo bank reconciliation.
The methods provided in this guide will help you undo the entire reconciliation. If you require professional guidance to do the same, connect with our customer support team at +1(855)-738-0359
Here's How to Edit a Single Transaction or Undo the Entire Bank Reconciliation
Follow the provided methods to undo a transaction or the entire bank reconciliation in QB Online:
Edit an Individual Transactions from the Bank Reconciliation
Review the opening and ending balances to see if there are any discrepancies after reconciling the QB transactions with bank statements. After finding the error in the entered transactions, you must edit them to reconcile them successfully. Move to the next step to edit the incorrect transaction.
Step 2: Undo a Transaction in Reconciliation
Go to 'Charts of Accounts' from the 'Accounting' menu.
Select the account that holds the reconciled transaction, then select ‘View Register.’
Find the transaction you want to undo and select it to expand the view.
Now select the checkmark column, select the box with 'R,' unmark it, and select Save.
Recommend reading: How To Resolve QuickBooks Multi-User Mode Not Working Error?
Undo the Complete Bank Reconciliation in QuickBooks Online
The given steps will help you remove all the previous bank reconciliations in QB; follow each step carefully:
Points you should consider before undoing the entire reconciliation
When you undo an older reconciliation, it will automatically clear all the previous reconciliations. Like, your current month is September, and you want to clear the June month reconciliation, so it will automatically undo the reconciliation of all the between-months: July and August. So, start with the most recent reconciliation and work your way backward.
QuickBooks does not offer a feature to undo manually reconciled transactions. To undo manually reconciled transactions, you need to follow a manual method.
Follow the given steps to clear the reconciliation:
Sign in to QuickBooks Online.
Go to the menu bar and click on 'Accountant.'
Select the 'Charts of Accounts' and move to the 'Reconcile' tab.
On the Reconcile window, select 'History by account.'
Moving on, choose the account you want to reconcile.
Look for the reconciliation option in the list.
Select 'View Report' to open the selected reconciliation report.
Review the opening and ending balances and find the discrepancies.
Move to the 'Action column', click the dropdown, and select 'Undo.'
Select 'Yes' to confirm and 'Undo.'
We hope that after using the given methods, you're able to change or undo Bank reconciliation in QuickBooks Online. If you still need help to undo bank reconciliation, dial +1(855)-738-0359 to talk to our support team.
Comments