Popular accounting programme QuickBooks helps businesses of all sizes effectively manage their finances. However, for someone who is unfamiliar with the software, numerous terms and operations, such as the term “revert,” may seem unclear.
Understanding the definition and application of the revert option in QuickBooks is critical for maintaining correct financial records and preventing errors.
- What does revert mean in QuickBooks?
- What does revert do in QuickBooks?
- What does Revert in QuickBooks mean for Sales?
- Revert a Sales Transaction
- Revert to an Earlier Version of a Sales Report
- Revert to a Prior State for Sales Data
- What does Revert in QuickBooks mean for Invoices?
- How to undo changes made to an invoice in QuickBooks?
- What does Revert in QuickBooks mean for other documents?
- How to Delete, Revert, and Clear the Transactions in QuickBooks?
- How to Revert QuickBooks to the Prior Date?
- How to Use Reverse a Transaction Feature in QuickBooks?
- What are the common mistakes to avoid when using revert in QuickBooks?
In this article, we will delve into ‘what revert does means in QuickBooks’ and provide a step-by-step guide on how to use it effectively.
What does revert mean in QuickBooks?
In QuickBooks what does revert mean is the ability to undo or reverse a transaction or action put into the software. Essentially, it is a method for taking a record or transaction back to a previous state in the system.
For example, if you mistakenly record an inaccurate amount for a transaction or remove a transaction by mistake, you can use the reverse tool to undo those changes and return the record to its prior condition.
This can assist you in avoiding errors and maintaining the accuracy and timeliness of your financial data.
What does revert do in QuickBooks?
Users of QuickBooks will find the revert button to be helpful because –
- It enables them to undo changes made to their company file.
- This is especially useful if a user mistakenly inputs inaccurate information, as it can be instantly updated without having to manually go through and fix each transaction separately.
- The company file can also be restored from a previous backup using the revert button, which is useful if the current file gets corrupted or has errors in it that can’t be corrected in any other way.
Rather than manually fixing each transaction or attempting to reconstruct a deleted invoice, this can save a significant amount of time and work.
What does Revert in QuickBooks mean for Sales?
In QuickBooks, the revert feature can be used for sales in a few different ways, depending on the specific situation:
Revert a Sales Transaction
If a user needs to undo or reverse a previously recorded sales transaction, they can do so by using the revert option.
- This can be useful if the consumer wants to change or cancel their order, or if the transaction was recorded improperly.
- The user can undo the sale and erase it from the business’s financial records by rolling back the transaction.
Revert to an Earlier Version of a Sales Report
Users can utilize the revert feature too –
- Access a previous backup of the company file in order to obtain a sales report that was created in the past.
- This can be useful if the user wishes to compare sales data from several time periods if the present report has been mistaken.
Revert to a Prior State for Sales Data
If a user wants to undo a sequence of modifications that were made to sales data over time, they can utilize the revert function to return the data to a previous state.
- This can be useful if a user unintentionally made modifications that had an impact on numerous transactions.
- Or if they need to go back in time and restore the sales data.
We’ve defined a procedure below to show you how to reverse sales receipts in QuickBooks. You can read it to discover how to restore the receipts to their original state.
- Launch “QuickBooks.”
- Make the buyer a sales receipt.
- Click the QuickBooks “Revert” button.
To answer your questions, what does the revert button mean in QuickBooks for sales, it can be a helpful tool for managing sales data because it enables users to undo modifications and return data to a previous condition when required.
What does Revert in QuickBooks mean for Invoices?
In QuickBooks, the revert feature can be used for invoices in several ways:
Revert an Invoice to a Previous Version
If a user needs to undo changes made to an invoice or restore it to a previous version, they can use the revert feature. This can be helpful –
- If the invoice was accidentally deleted.
- If the information on the invoice was entered incorrectly.
- If the customer requests changes to the invoice.
Revert to a Previous Backup
If a user needs to access an earlier version of an invoice or restore a deleted invoice, they can use the revert feature to restore a previous backup of the company file. This can be helpful –
- If the current version of the invoice contains errors.
- If the user needs to compare different versions of the invoice.
How to undo changes made to an invoice in QuickBooks?
Here are the general steps to undo changes made to an invoice in QuickBooks:
- Open QuickBooks and go to the “Customers” menu.
- Launch the invoice form to access the list of invoices.
- You’ll notice a small button next to the “Save & New” button.
- If you mistakenly touch a key while making changes to the invoice, you can undo it by clicking the “Revert” button.
When you click the Revert button, the modifications will be undone and the invoice will display as it did when it was first saved. But watch out for clicking the Save button. By doing this, your modifications will be recorded, and even after hitting the Revert button, you might not be able to undo the changes.
What does Revert in QuickBooks mean for other documents?
In QuickBooks, the revert feature can be used for other documents in addition to invoices and sales transactions. Users can use the revert feature to undo changes made to –
- Purchase orders
- Credit memos
Note: In addition to Revert, there is a Clear button. The entire form is removed if you press the Clear button.
However, pressing the Revert button will only roll back the most recent modifications. Do not click the Save option as this may make it harder for you to undo any changes that have already been made.
You can use the same techniques to reverse the estimates and enter bills:
- Simply open the “Estimates” or “Enter Bills” tabs in QuickBooks to get started.
- At the bottom, select the “Revert” button.
Your papers will be returned to their original state as soon as you click the Revert button. Keep in mind that clicking the Clear option will remove the entire form.
How to Delete, Revert, and Clear the Transactions in QuickBooks?
You can accidentally hit the key or add the incorrect amount when preparing transactions in your QuickBooks account. As a result, it shows changes in transaction amounts.
You have a number of alternatives, including Clear, Undo Typing, and the QuickBooks Revert button, to reverse your actions.
- Deleting Transactions – To delete a transaction in QuickBooks –
- Go to the transaction in question.
- Click on the “File” button from the drop-down menu.
- From the drop-down menu, select “Clear.”
- QuickBooks will prompt the user to confirm the deletion. Once the user confirms the deletion, the transaction will be permanently deleted from the company file.
- Reverting Transactions – To revert a transaction in QuickBooks –
- Go to the transaction in question and click on the “File” button at the bottom of the screen.
- From the drop-down menu, select “Revert.”
- QuickBooks will prompt the user to select a reason for reverting the transaction.
Once the user confirms the reason for reverting, QuickBooks will undo all changes made to the transaction since the last time it was saved.
- Clearing Transactions – To clear a transaction in QuickBooks –
- Repeat the first steps the same as above.
- From the drop-down menu, select “Clear.”
- QuickBooks will mark the transaction as cleared, indicating that the transaction has been reconciled with the bank statement.
There are several ways to restore QuickBooks transactions. To delete an entry from the employee, vendor center, customer, or bank account register, you can use the Clear button.
If you want to remove the most recent entry from the item list, you can press the Undo Typing button. Additionally, you can use the QuickBooks Revert button to restore the previous change.
How to Revert QuickBooks to the Prior Date?
Reverting QuickBooks to a prior date is known as restoring a backup. Here are the steps to revert QuickBooks to a prior date:
- Open QuickBooks and click on the File menu.
- Select the “Open or Restore Company” option.
- Choose “Restore a backup copy” and click on “Next.”
- Browse and select the backup file that you want to restore.
- Choose a location to save the restored company file and give it a new name.
- Click on the “Next” button and let the restore process complete.
- Select the location where your restored file can be saved.
- Once the restore process is complete, you can open the restored company file and verify that it contains the data from the prior date.
Note: Restoring a backup will replace all the existing data in QuickBooks with the data from the backup file. Therefore, it is crucial to make a backup of the current company file before restoring a backup.
How to Use Reverse a Transaction Feature in QuickBooks?
There may be times when you make the payment to the incorrect invoices. In this situation, you can use the Reverse a Transaction option. This choice is available under the Processing Tools. You can refund the transaction using this.
The Reverse (Void/Credit) option, on the other hand, is an alternative. You can undo the payments you made to the incorrect invoice using this tool.
You can follow these steps for both the Reverse a Transaction and Reverse (Void/Credit) capabilities to undo payments made on invoices.
- Using Revert Transaction feature to refund payment – Here are the steps to use the Reverse a Transaction feature in QuickBooks:
- Log into the “QuickBooks Payment” account.
- Select “Processing Tools” from the drop-down menu now.
- Select “Reverse a Transaction” from the menu.
- Fill out the form with the required information.
- Select “Search” from the menu.
- Select the transaction you want to cancel.
- Click the “Submit” button.
- Using the Reverse (Void/Credit) feature to reverse transactions applied to incorrect invoices – To reverse a payment, use the reverse (void/credit) feature.
- Select “Activity & Reports” from the drop-down menu.
- Select the “Transactions” tab.
- Add the date or period of the transaction.
- Select “Search” from the menu.
- Choose the transaction you want to reverse by selecting the “Transaction ID” option.
- Select “Reverse (Void/Credit)” from the menu.
- Tick a checkbox next to the transaction.
- Select “Submit” from the menu.
What are the common mistakes to avoid when using revert in QuickBooks?
While using the Revert feature in QuickBooks, it is important to avoid some common mistakes that can lead to data loss or errors. Here are some mistakes to avoid when using the Revert feature in QuickBooks:
- Not backing up your data
- Reverting to the wrong version
- Not checking for linked transactions
- Not understanding the impact of reverting on other transactions or reports.
- Not keeping track of the changes made
The Revert in QuickBooks allows you to undo changes that you have made to a transaction, form, or list item. This feature can be useful in correcting errors or mistakes in your QuickBooks data.
In QuickBooks Online, and other versions, the revert option can be used to undo those errors and reverse the changes. The QuickBooks Revert button has been made specifically for this purpose.
Now that you know what does revert means in QuickBooks, the usage and application of the revert button should have become clearer to you. You can undo changes or mistakes and thus save time by using the Revert option.