If you’re like most QuickBooks users, reconciling your bank statements is basically one of the tasks you do each month to keep your books in order. But at times QuickBooks Online users may find themselves in a situation where they need to undo a reconciliation. However, this can be done relatively easily, but it’s important to take caution and make sure all the necessary steps are basically followed to ensure a successful undo. Therefore, in this post, we’ll walk you through the essential steps to undo reconciliation in QuickBooks online. Let’s get started!
In this article, we are going to discuss the process of how to undo reconciliation in QuickBooks online. All the details related to undo reconciliation will be explained in the post. So keep reading!
Table of Contents
What is Undo Reconciliation in QuickBooks Online?
Reconciling a bank statement is not such a big task, although there is a regular need to eliminate or un-reconcile a specific transaction from the whole reconciliation.
It mainly happens when you add a transaction to reconciliation by mistake. Therefore, we are going to provide you with some possible reasons that lead to undo reconciliation in QuickBooks online.
- If the transaction is basically not verified correctly & has not been cleared properly.
- Registration of payment with an incorrect date.
- The bank statement date is incorrect.
- Incorrect formatting of the bank reconciliation which is generally required to be performed in the correct format.
Benefits of Undo Reconciling Accounts in QuickBooks Online
There are many advantages of undoing reconciliation in QuickBooks online. Therefore, let’s have a look at a few of them to understand the importance of reconciliation in QuickBooks Online.
- If you see any possibility, you can take major action.
- Changes in income can be verified easily.
- It helps in detecting frauds by vendors, customers, employees, etc.
- Easy to capture various bank errors.
Moreover, after we know the importance of reconciliation, let’s move to the steps to know how to undo reconciliation in QuickBooks Online.
How to Undo Reconciliation in QuickBooks Online?
To undo reconciliation there are 2 situations that need to follow. Although, both the situations are mentioned here, follow the steps carefully.
For the User of QuickBooks Online Accountant
- In the QuickBooks Accountant section, move to the Gear icon.
- Now move to the Column tool in the drop-down menu.
- You will see the Reconcile option inside the Tool Column, then hit on it.
- Now after this, hit on the History option.
- Now on the History account page, click on the Account & Report option.
- This section will help you to find the reconciliation to Undo.
- Hit on the Undo option in the Action Column.
- Now press the Yes.
- Once you click on the Yes option, the Confirmation windows will pop up.
- At last, now hit on the Undo option & then click on the OK option.
Therefore, we hope that this process will surely help you to know how to undo a bank reconciliation in QuickBooks Online. The methods are really easy and simple to follow.
For the User of Other QuickBooks Version
- Open QuickBooks Online.
- Then move to the Gear icon & then click on it.
- Now choose the Chart of Accounts in the column of your Company.
- Choose the Chart of Accounts option.
- Now hit on the View Register in the Action Column section.
- Now search for the transaction you want to edit.
- In the transaction section, you need to click continuously to change its status.
- C will basically show Cleared.
- R will basically show Reconciled.
- & if your Bank will appear that means Not cleared or reconciled.
- Therefore, you need to stop on the Bank Status that shows that you need to reconcile transactions.
- At last, just close the Register.
Therefore, we hope that you have understood the process of undoing reconciliation in a QuickBooks account. Follow the above-explain steps to know how to undo reconciliation in QuickBooks online. However, you just need to follow the steps and instructions carefully so that you can easily undo the reconciliation into your account whenever you require it.