In QuickBooks accounting software it is very easy and convenient to reconcile the accounts. However, there are some instances happen when you are required to unreconcile the accounts for a month in QuickBooks accounting software. In this module, we will learn how to unreconcile a month in QuickBooks accounting software.
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How can We Define the Account Reconciliation?
The Account Reconciliation is the process to match the detailed amounts mentioned in the general ledger. This process is generally adhered once the financial year is ended to avoid any inconsistencies available in the statements. For every company reconciliation of the accounts becomes a necessary task to maintain the accuracy and keep the accounts updated. This is also helpful to avoid the errors and fines due to the incorrect accounts. However, sometimes due to various reasons we are required to unreconcile the accounts for a month in QuickBooks accounting software.
Is it Possible to Unreconcile Account Reconciliation and Redo it?
Yes, here is a facility in QuickBooks accounting software which allows the user to unreconcile an account reconciliation and redo it.
The feature of the Undo button in the Action column is available in QuickBooks Online Accountants only. If the user is using this version then he/she is allowed to unreconcile the accounts on your behalf. In this article we will have a detailed discussion on the topic how to unreconcile a month in QuickBooks accounting software:
An invitation can also be sent to the accountant to review the accounting in QuickBooks Online.
You are required to adhere the below-mentioned steps:
- In the first step, you are required to navigate to the Accounting menu and make the selection of the Chart of Accounts.
- After that, you need to find the account and choose the View register option.
- Now, find the entries which are required to unreconcile and choose the expand option.
- Now, you need to click the box with the letter R until it comes blank. After that, proceed to save it.
In few instances, users mention the incorrect information at the time of reconciling the bank transactions and that is the reasons when user requires undoing the performed reconciliation. There might be some other reasons which make you want to undo the bank reconciliation. In this detailed article, we will guide to the various methods of to undo bank reconciliation in QuickBooks accounting software.
What is the Reason that we are Required to Perform the Undo Bank Reconciliation Task?
The reasons can be various if you need to reverse the reconciliation steps. Here are few reasons mentioned below which are possible to perform the undo bank reconciliation:
- If the user has mention the incorrect date of the payment.
- The entry was checked off incorrectly and found that it had not been cleared in the bank.
- The forced reconciliation process, and now it needs the corrections in the reconciliation with accurate manners.
- An incorrect date or day which also make you reverse the bank reconciliation.
Reconciling the bank is quite simple; however, doing the reversal of the reconciliation process can be difficult. If you are finding any kind of issues while doing it, we are always here to help you, and you can connect with us anytime. In the end of this module we will mention the contact details for your reference, and we will do our best to assist you with every detail related to the undo reconciliation process.
What is the Process to Unreconcile the Transactions in QuickBooks Online?
If you are using the QuickBooks accounting system online, there is a function available which helps you to reverse the reconciliation process by using the Undo a reconciliation option. This feature is very helpful for you to reverse the reconciliation of earlier entries without having the requirement of editing the individual entries through the manual process in the register. If you are performing the task in other version of QuickBooks online then there are other steps which you need to follow to reverse the bank reconciliation.
The reversal process of reconciliation will delete all the existing attachments. Just be careful when you edit the previously done reconciliations.
How to use the Undo Reconciliation Function in QuickBooks Online Accountant?
To undo the complete reconciliation, you need to require downloading the attachment which is connected to the reconciliation. To proceed with the unreconciliation a month in QuickBooks Online you are required to adhere the below-mentioned steps:
- In the first step, you are required to log in to the “QuickBooks Online Accountant“.
- In second step, navigate to the customer’s QuickBooks accounting company and open it.
- In the next step, you are able to open the company file then, click on the “Accounting” menu and click on the “Reconcile” tab.
- Now, click on the “History by account” option and select the account which you are required to reconcile.
- After that, by using the drop-downs you need to select the date range.
- Now, you are required to spot the reconciliation from the list in this step.
- After that, hit on the “View Report” button and “Reconciliation Report” is open after performing this step.
- In this report you are able to verify if there are any discrepancies. Also, you can review the changes which the clients are required to make.
- Once the required changes are done you are required to hit the drop-down menu from the “Actions” column.
- Now, click on the “Undo” option and after that click on the “Yes” option.
- And in the last step, you are required to click on the “Undo” button to confirm the action.
If you are not able to get the undo option, so you are required to verify if the client’s company file is opened from QuickBooks Online Accountant.
What steps are Required to be Followed to Reverse the Reconciliation for other Various QuickBooks Online Versions?
Is not needed that the undo reconciliations function is available in every version of QuickBooks accounting software. If you are using other version of QuickBooks then you can reconcile the transactions manually to undo the bank reconciliation. Just follow the blow-mentioned steps:
- In the first step, you are required to choose the “Accounting” tab located on the left.
- You are required to hit the Chart of Accounts option in the Your Company section in the next step.
- Now, choose the account which you are working on.
- Post that, you are required to click on the View Register option.
- Once you are done with the above given steps, now you need to select the entries which requires to be reconciled.
- After that, at this moment, you need to keep hitting the “R” status until it shows “C” and the status changed into the cleared or blank now.
- After that, choose the “Save” button and click the yes option to confirm the actions.
By following the above-mentioned steps, it is very simple to undo the bank reconciliation process. These are the common steps which can be performed in the latest versions of QuickBooks Online.
What Steps needs to be followed to Unreconcile the Transactions in QuickBooks Online Accountant?
You are required to adhere the below-mentioned steps to unreconcile the transactions in QuickBooks Online Accountant:
- In the first step, you are required to the “Gear” icon which is situated in the top right.
- In the second step, choose the “Reconcile” option from the tools.
- After that, you are required to select the bank account for which the reconciliations need to be reversed.
- Once it’s done, now choose the bank, take your mouse on the month which needs to be reversed for reconciliation ad once you do that there you will get an option of “UNDO” button situated next to the “Auto Change” column.
- After that, you are required to click on the UNDO button and once the undo button is selected you will see the window of Undo Reconciliation.
- Hit the “OK” button in this window.
- Once you are able to get the confirmation window, hit the OK key.
What are Steps to Unreconcile a Month in QuickBooks Desktop?
The process of reversal of the bank reconciliation is easier in QuickBooks Desktop than Online. If the incorrect details are entered mistakenly, and you need to reverse the process of reconciliation, it can be done by using the Undo Last Reconciliation feature. Just follow the below-mentioned steps to reverse the reconciliation process in QuickBooks Desktop:
- In the first step, open the “QuickBooks Desktop” and navigate to the “Banking” option.
- After that, locate the entries which need to be reconciled.
- Now, choose the “Reconcile Now” option and hit the “Undo Last Reconciliation“.
Once the above steps are done, now you can reverse the bank reconciliation process in QuickBooks Desktop.
The process of reversing the bank reconciliation is needed if you have mistakenly entered the incorrect details. It can happen in QuickBooks Desktop or QuickBooks Online Accountant, it is very simple process to reverse the bank reconciliation. We have tried to cover the maximum information for undoing reconciliation in QuickBooks. However, if you are still facing any issue or having any query then do not hesitate to connect with our Dancing Numbers team of experts via LIVE CHAT.
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