- Undo Reconciliation In Quickbooks Online
Simple Steps To Undo Reconciliation In Quickbooks Online
Reconciling your accounts is an essential step in any business. Usually, reconciliation denotes all the information in your account books that have been verified against an outside source. It is always necessary to undo reconciliation at regular intervals for the proper functioning of the whole system. This could be a reconciliation you have completed at recent times, or a reconciliation from a previously closed month. In case you use QuickBooks Online as your primary accounting software, then there are two pre-defined processes that you can follow. Stick to this article to undo reconciliation in QuickBooks Online.
Some Factors To Undo Bank Reconciliation
The payment date is inaccurate.
The bank reconciliation was forced, and now, that needs to be corrected.
The bank statement date is incorrect.
Steps To Undo Reconciliation In Quickbooks Online
- First, open QuickBooks Online Accountant (QBOA).
- If you have Admin rights, log in as an Administrator.
- From the drop-down list, choose the company file of the client.
- Click on Settings > Tools > Reconcile.
- Go to the Gear icon at the top.
- Pick Reconcile under the Tools column.
- On the Reconcile an account page, choose History by an account.
- Go to the Action column and select Undo.
- Click Yes to confirm.
- In the final approval window, choose Undo and click OK.
Note: If you are not using the QBOA, you will not witness the above option, then you are left with only one option – Manually edit each transaction to undo reconciliation.
- Go back to the Gear icon.
- Locate the desired account for the transaction.
- Select View Register.
- Identify the transaction that you want to edit.
- Click the top line of the transaction so that you can change the status and then click the Save button.
- C – Cleared.
- R – Reconciled.
- Blank – Not cleared or reconciled.
Related Article: Quick Guide On How To Start Reconciling In Quickbooks Online
Tip: Accurately reconciling your accounts will take some extra time, but is worth the extra effort.
If you feel that you are taking up too much time on reconciliation, then consider engaging an external bookkeeper or qualified accountant to help you with the process.
So, these are the basic steps that will help you undo reconciliation in QuickBooks Online. For more queries, you can talk to our technicians.