When the QuickBooks Balance Sheet is not in sync with the bank statement after reconciliation, sometimes it becomes a necessity to un-reconcile your particular QuickBooks transactions before editing the mistakes, if any.
In the desktop version of QuickBooks, it is possible to do a previous reconciliation in just one step. If are using QuickBooks Online, it is imperative that every transaction individually is unreconciled.
Yes. Undoing past QuickBooks Desktop reconciliation is easy in one step.
What is Undoing of Reconciliation in QuickBooks?
Reconciling bank statements is not that difficult, however, there is often the need to remove or un-reconcile a transaction or remove a particular transaction from the overall reconciliation.
This typically takes place when you by mistake add a transaction to reconciliation. Please find below some of the possible factors that lead to undoing Bank Reconciliation:
- A transaction is not checked off properly and had not been cleared too
- The bank statement date is wrong or not on the right day
- The payment was registered for a wrong date
- The bank reconciliation was done forcibly and now needs to be done in the right method
Why do you need to undo Reconciliation in QuickBooks?
Here are the possible reasons to undo reconciliation in QuickBooks:
- All the transactions must be checked properly and should be checked that there is no check remaining which need to be cleared in the days to come
- The bank statement given was wrong and not for the right date
- The payment recorded was not for the right date
- The conducted bank reconciliation was forced
- Reconciliation helps users to point out the changes in income
- Analyze numerous hidden bank errors
- Reconciliation helps to avoid any kind of fraud from the employees or vendors
How to Undo or Delete Reconciliation in QuickBooks?
Here you can follow the steps to Undo or Delete Reconciliation in QuickBooks.
Estimated Reading Time: 7 minutes
Steps to Undo or Delete Reconciliation in QuickBooks:
Step 1: Open your QuickBooks account and navigate to the Banking option and select the left menu
Step 2: Pot this, chose Banking on the top
Step 3: Select the Account seen on the top
Step 4: Post this, go to Register/Account History
Step 5: Now look for the particular transaction which you wish to reconcile, but only one at a time
Step 6: The highlight the particular tab on the transaction
Step 7: Now click the R that is on the top line of the transaction that is suited between Deposit and Amount
Step 8: By selecting the field, you will enable to change the transaction status to the status desired. From Blank=unreconciled to C=Cleared
Step 9: Press on Save
Step 10: A pop up will show and then click on Yes
Steps to undo Bank Reconciliation in the QuickBooks Online Accountant Version
Step 1: First you need to select the Gear icon.
Step 2: Then select Reconcile that is below tools.
Step 3: Now you need to choose the bank account again that you wish to Undo Reconciliation.
Step 4: Now select the Reconciliation month that you wish to undo.
Step 5: You will see an Undo button on the right side of the auto Change column.
Step 6: Now just click on the Undo button.
Step 7: A message will pop up on the computer screen.
Step 8: Now you need to select the OK button.
Step 9: The success message will be displayed with a pop-up.
Step 10: Select the OK button.
Steps to Undo Bank Reconciliation in QuickBooks Online
QuickBooks Online does the reconciliation of transactions differently and hence you need to reconcile one at a time:
Step 1: Go to the Start menu and choose Registers from the particular Banking Menu and then select the Account from the particular Register Name in the drop-down.
Step 2: Now you need to tap on the transaction that you wish to reconcile and then delete R seen at the top of the transaction to edit its rank to the unreconciled.
Step 3: In case you wish to reconcile every part of the transaction for a certain time-period, then it is recommended to print a list of the reconciled transactions by utilizing the reconcile alternative from the particular banking menu.
Steps to undo Bank Reconciliation in the QuickBooks Desktop Version
If you have a QuickBooks Desktop version such as the QuickBooks Premier or the QuickBooks Pro, then as a user you can unreconcile an overall reconciliation by selecting the Reconcile Now from the Banking Screen and then choose Undo Last Reconciliation.
However, prior to doing this, users are required to select the Locate Discrepancies in order to produce a list of the discrepancies to locate the mistake.
If you still cannot Undo or Delete Reconciliation in QuickBooks, then it is highly recommended to hire the services of a professional.
What is Bank Reconciliation?
Bank reconciliation is the statement that provides a detailed explanation of the difference between bank balances as per cash book with passbook.
Why QuickBooks Reconciles?
To ensure the beginning balance in QuickBooks along with the transactions listed is the same as the monthly bank balance or not.
Can Reconciliation be Done Manually?
Yes. Reconciliation can be done manually if there is a requirement to change few transactions. It is not recommended to reconcile manually when there are too many transactions.
When the reconciliation is done manually, it will solve the main reason for the rising problem. In some instances, it has created additional problems.
How to Recover Deleted Items?
Here are the steps to recover deleted items:
• Select reports and then choose taxes and accounts
• Select delete transactions
• Add the date to delete the reconciliation and then add the transaction again