In QuickBooks Online account, you can undo reconciliation easily. For this, you just need to do one thing: make sure which QuickBooks account you are using.
If you have QuickBooks online Accountant then there is a special tool for reconciliation. So if any of the clients require to undo several transactions then you can undo the reconciliation and then start it from scratch; that is a fresh start.
If you are not using the QuickBooks Online Accountant then you have to undo reconciliation in QuickBooks Online manually.
Here are the steps according to both the situations. Also, get to know aboutthe reasons behind it and its advantages.
Reasons to Undo Reconciliation in QuickBooks online
The various reasons to undo the reconciliation so you must know about it. So, that are as follows:-
- The recorded date is incorrect.
- In case of any payment documented for wrong date.
- The bank reconciliation is compelled and have to correct in the order.
- If any transaction is not clear.
Advantages of Undo Reconciling Accounts in QuickBooks Online
Some advantages to undo reconciliation accounts are as follows:-
- Easy to capture different bank error.
- Fluctuations and changes in income can be determined easily.
- You can take major action if you see possibility of Risk.
- It helps in stopping fraud by vendors, customers, employees, etc.
Steps to Undo Reconciliation in QuickBooks online
There are 2 situations to undo reconciliation in QuickBooks Online account and that are as follows:-
When you are using QuickBooks Online Accountant?
- In QuickBooks Accountant, go to the Gear icon.
- In the drop-down menu, go to the column Tools.
- Under Tools column, you see the option Reconcile, click on it.
- The page Reconcile an account opens up.
- In this, click on the History by account option.
- It takes you to the History by account page and from there, click on the Account and Report period.
- This option help you to locate the reconciliation to undo.
- Under the Action Column, click on the Undo option.
- Then press the Yes button.
- The confirmation window opens up.
- Click on the Undo and then click the OK button.
When you are using other QuickBooks Online Versions?
- Open QuickBooks online.
- Go to the Gear icon and click on it.
- Then under the column of Your Company.
- Select the option Chart of Accounts.
- Search for appropriate account for your transaction.
- In the Action Column, click on the View Register.
- Find out the transaction that you want to edit.
- You see a column name Reconcile status.
- In front of transaction, you have to click repeatedly to change its status.
- If you see C that means Cleared.
- If you see R that means Reconciled.
- If you see Bank that means Not cleared or reconciled.
- So you have to stop on the status Bank that means you have undo reconciled transaction.
- After that, click on the Save button.
- You have to do this for all the transactions that you want to undo reconciliation.
- In the end, close the register.
In conclusion, you get to know that undo reconciliation in a QuickBooks account can also be done. For this you have to do the steps according to the account you are using. Just follow the instructions and you can easily do undo reconciliation into your accounts whenever required.
Need Some one on one QuickBooks Assistance?
Does manual undo Reconciliation in QuickBooks Online work for all Editions of QuickBooks?
Yes, the manual process works with all the editions of QuickBooks online except QuickBooks accountant. The QuickBooks accountant has its own tool to undo reconciliation. So check your product and then apply the steps.
I want to undo the Reconciliation of any previous month but the current month is different so, can I do it and does it affect my current accounts?
You can undo reconciliation for any previous month. But while doing this you also gr all reconciliation undone from that previous month to your current month. For example, if you are in the month of August but undo reconciliation of month December then the reconciliation of December, January, and February are undone. Be careful when you undo reconciliation of any previous month.
What if I want to make an Adjustment then what are the steps as I do undo Reconciliation in QuickBooks Account?
You have done any entry wrong and did reconcile the account. Then you have to undone the reconciliation process. If you are done with undo reconciliation then make the adjustment entry to correct the wrong entry. The steps for adjustment entry are as follows:
In QuickBooks, click on the Accounting menu option.
Select the option Reconcile tab.
After that, reconcile your account.
When you are done with reviewing everything for the errors.
Then click on Start Reconciling.
Click on the button Finish Now.
In the end, select the Done button.