In QuickBooks, reconciliation refers to the comparison of 2 accounts that are related. When the action needs to be reversed, you can undo reconciliation in the software. Undoing a reconciliation can be done due to incorrect dates entered for the transactions or the faulty sequence of the data. To guide you about the process to undo it in QB and its versions, you can read this post. Here, we have shown how to undo reconciliation in QuickBooks Online, QuickBooks Desktop, and other versions of the software. You can also go through several reasons for reversing reconciliations in QB.
Why You Need to Undo a Reconciliation in QuickBooks
These are the major reasons due to which you may want to undo bank reconciliation in QuickBooks Desktop/Online:
- The wrong date for the transaction(s) may have been entered.
- There may be an erroneous bank statement’s date.
- You may want to undo reconciliation due to the incorrect data sequence.
- Linking the wrong bank details can also affect the reconciliation.
Altogether, it is important to quickly undo reconciliation in QuickBooks to avoid inaccurate bookkeeping for a company.
How Do You Undo a Reconciliation in QuickBooks?
To reverse a QuickBooks reconciliation, the users need to log in to their accounts and open the pre-saved Reconciliation Reports. Through these reports, the process can be initiated. The different versions of this software require specific reconciliation processes.
Below, we have explained how to undo bank reconciliations in QuickBooks Online, QuickBooks Online Accounting, and QuickBooks Desktop.
1: Undo a Reconciliation in QuickBooks Online
Users of QuickBooks Online can undo the reconciliation of transactions directly through their accounts. After this, you need to view the Registers section of the Banking page. The “R” denotation will appear beside the recorded data that requires un-reconciling. Deleting this from the table is effective for changing the reconciliation status. This can be possible after the user clicks on the Transaction option.
Learn more about how can you undo a bank reconciliation in QuickBooks Online by reading these steps:
- First, open “QuickBooks Online”.
- Select “Registers” from the “Banking” drop-down menu.
- Via the drop-down menu of the “Register” tab, choose “Account”.
- Now, click on the transaction for which you want to undo the reconciliation.
- Finally, delete the “R” letter to change its status to unreconciled.
Note: If your aim is to reconcile each transaction for a certain period, then print a list of the reconciled transactions using the “Reconcile” alternative available in the “Banking” menu.
2: Undo a Reconciliation in QuickBooks Online Accounting
It is possible to undo reconciliation in QuickBooks Online Accounting. Here, the users can undo reconciliation as an Administrator after logging into the available account. The option to do so is available through the Settings option. You have to search the reconciliation data through the history and then confirm the undo reconciliation action when the prompt appears.
The steps for this process are given below:
- Firstly, open “QuickBooks Online Accountant”.
- Next, log in as an administrator.
- From the drop-down list, choose the company file or the file of the client that you want to undo the reconciliation for.
- Now, click on the “Settings” icon and choose “Tools”.
- Choose the option of “Reconcile”.
- Now, Visit “Reconcile an Account Page”.
- Opt for “History by an Account”.
- Next, pick the account and “Report Period” to search for the reconciliation that you want to undo.
- Now, go to the “Action” tab.
- Select “Undo”.
- Next, tap on “Yes” to confirm.
- In the last approval window, select “Undo”.
- Click on “Ok” to undo the reconciliation.
3: How to Undo a Reconciliation in QuickBooks Desktop?
In the desktop version of the QuickBooks, the users can undo the reconciliation to value-protect their transaction data. The QB Desktop users have to access their account as the Administrator and select the company file that requires editing. The undo reconciliation action will be possible through the present Banking menu.
Should you need more assistance, read below and find out more about how to undo reconciliations in QuickBooks Desktop:
- Run “QuickBooks Desktop”.
- Secondly, log in as an “Administrator” by providing the relevant details.
- Now, choose the company file from the drop-down menu.
- Next, go to the “Banking” menu.
- Click on the “Reconcile” menu now.
- Finally, click on the “Undo Last Reconciliation” to undo the reconciliation in the QuickBooks Desktop.
While reconciling the transactions in QuickBooks or its versions, you need not worry about making any errors. Even when these errors are made and the bank transactions get affected, you can undo the reconciliation. After reading this blog, you would have learned How to Resolve QuickBooks Error Missing Name List Problem?
Ans. To run the reconciliation reports, you need to navigate through the Reports menu. Then, search for the Reconciliation Reports through the Find report by name search bar. Once you find the Reconciliation Report, select your account, choose the Report Period to view the report details.
Ans. Navigate to the Accounting menu and locate your account. Now, click on the View register and choose the transaction that you wish to unreconcile. After reviewing the check column, choose the box and continue clicking on it until it goes blank.
Ans. In QuickBooks Online, go to the Registers menu using the Banking drop-down. After this, select your account, select the transactions and remove the R letter to change the status of reconciliation.