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When you receive your bank statement, it is important to match it with the bank transactions to complete the reconciliation process. However, there can be instances when you are unable to match the bank statement with the bank transactions. This usually happens due to the deleted reconciled transactions. If the reconciled transactions have been deleted from QuickBooks Online, you will find it difficult to match the transactions. That is when you want to fix the deleted reconciled transactions. If you are seeking help for the same, we are here to enlighten you on how to fix deleted reconciled transactions in QuickBooks Online.
The guide is dedicated to explaining the causes leading to reconciliation discrepancies. Furthermore, we will discuss two different ways to fix the deleted reconciled transaction in QuickBooks Online. Let’s get started!
How Do Deleted Reconciled Transactions Affect QuickBooks Online?
As you proceed with the reconciliation, errors are likely to appear on your screen. Generally, users find incorrect details while reconciling the account that leads to reconciliation discrepancies. Such discrepancies show up because the transactions (that were marked as reconciled) are not available now or transaction is not loading. If you have deleted the reconciled transactions, it will cause reconciliation discrepancies. However, there can be other reasons that may cause reconciliation discrepancies such as:
- If you add the incorrect ending balance at the starting of reconciliation, it may create problems.
- If the transaction is associated with a different bank account, reconciliation discrepancies are likely to happen.
- Duplicate or missing transactions can also bring issues to your QuickBooks Online.
Such reasons may prevent you from performing the account reconciliation. However, you can resolve this issue by recovering the deleted reconciled transactions. Let’s read further how to fix deleted reconciled transaction in QuickBooks Online.
How to Fix Deleted Reconciled Transaction in QuickBooks Online?
Deleted transactions that were marked as reconciled can be fixed by recreating them. All you have to do is proceed with the restoration process so that you can find out the deleted content.
There are two different methods to restore the deleted reconciled transactions. For instance, you can use the Audit Log to restore the deleted transactions or run the Reconciliation Reports. This will show you deleted or old transactions and then you can use these details in order to re-create the transactions manually in QuickBooks Online(Search Transactions in QuickBooks Online). Later, you can mark this transaction as reconciled.
In the following guide, we will explain both of these methods. Let’s find how to fix deleted reconciled transaction in QuickBooks Online with step by step details:
Method 1: Fix Deleted Reconciled Transactions from the Audit Log
By using the Audit Log method, you can find the transactions that have been deleted from your account. Once you locate the transactions, you can use the information to recreate the transactions manually. After that, go to the register and mark that transaction as reconciled. Let us show you the whole procedure in two sections:
Open Transactions in Audit Log
Audit Log is a helpful option to restore the deleted items. All you have to do is open the Audit Log, apply the filter for Date, and view results including deleted transactions. You can also read the following steps to understand better:
- Go to the “Gear icon” to open the settings.
- Here, you can click on the “Audit Log” option.
- After that, choose the “Filter” drop-down menu. This will help you select the appropriate date for the missing transactions.
- As you apply the filter, you can click on the “Show only these events” radio button. This will display the results based on the applied filter only.
- Now, you can mark the checkbox for “Transactions”.
- Once done, select the “Deleted/Voided Transactions” by clicking on the “Show” drop-down menu.
- Hit the “Apply” button.
- As you click on the “Apply” button, the “Audit Log” shows the information for the date you have selected using the filter. You can select the “View” option.
As you can see all the reconciled transactions, you can create the new transactions using the details from here. After that, mark the transaction as reconciled.
Update the Transaction Status as Reconciled
Now that you have located the deleted transactions, you can use these details to create the new transactions manually. All you have to do is to be sure that you update the status of your transactions in the register by adding “R” which denotes Reconciled.
If you are not aware of the process of changing the status of transactions in your register, go through the following steps:
- Navigate to the “Accounting” tab.
- Then, select the “Chart of Accounts” tab.
- At this point, you can find the transactions from your account register. For this, you need to click on the “View Register” option.
- Here, you can choose the transaction to expand the view.
- After this, place the checkmarks in the box until you see the “R” letter.
- Once done, click on the “Save” option.
As you see the R (refers to reconciliation) next to the created transactions, confirms that the transactions have been successfully reconciled. Now, you have learned how to find transactions and mark them as reconciled to repair the deleted reconciled transactions in QBO.
Method 2: Fix Deleted Reconciled Transactions by Running the Reconciliation Report
QuickBooks Online allows you to run the reconciliation reports. This will let you access the account for the reconciliation report by selecting the date. When you see the report, you can enter the transactions manually and change the status of the transaction by marking it as reconciled.
Run the Reconciliation Report
To run the reconciliation report, one has to open the report using the Report menu search bar. After finding the report, you can choose the account and apply the filter for the reporting period so that you can view the details of the transaction. If you want to know how to fix deleted reconciled transaction in QuickBooks Online by running the reconciliation report, you can go through the following instructions:
- To get started, navigate to the “Report” menu.
- Then, click on the search bar that states “Find report by name”. By using this search bar, you can look for your “Reconciliation Reports”.
- Once you find the “Reconciled Reports”, click on it to open.
- After this, you can go to the “Account” for the reconciliation report you want to see.
- Here, you can click on the “Report Period” drop-down menu to select the reconcile period.
- Press the “View Report” button.
Once you find all the reconciled transactions, you can continue adding these details to the transaction manually. Thereafter, you can mark these transactions as reconciled.
Update the Transaction Status as Reconciled
Once you are done creating your transactions, make sure you update the status of your transactions by marking them as reconciled. For this, you can pursue the following steps:
- Open the “Accounting” tab.
- Then, click on the “Chart of Accounts” tab.
- Now, click on the “View Register” option and search for the account that needs to be reconciled.
- Now, you can select the transaction to expand the page.
- After that, place the checkmarks in the box until you see the “R” letter.
- Make sure you click on the “Save” option.
By executing these steps, you can easily find the transaction from the reconciled report and then change their status to mark them as reconciled.
Conclusive Lines
The process of fixing the deleted reconciled transactions is a bit tricky. However, if you read this guide carefully and perform the methods, you can easily restore the lost or deleted transactions in QuickBooks Online. Here, we have already talked about how to fix deleted reconciled transactions in QuickBooks Online using two methods; Audit Log and Reconciliation Report.