Can anyone teach me how to undo the reconciliation in QuickBooks Online?

I have been working on QuickBooks for a few years now and have never face any issue, that is, until today. I had not performed the reconciliation procedure from several months, so I thought I should get it over with. I started checking off all the expenses and deposits one by one and started noticing a few discrepancies, I was in hurry as it was getting late, I did create an adjust entry and went ahead. Next day at work, I realized that I did not check off some expenses had already been cleared and were showing in my Bank statement. Now I want to undo the last reconciliation and so I can carry on with next month’s reconciliation. I need help regarding this issue, as I am falling behind in clearing of the last year books.

Asked on October 15, 2019 in Banking.
1 Answer(s)

Hi, first of all I would like to thank you for reaching out to our community regarding this issue. However, before I guide you as to how to undo the reconciliation in QuickBooks Online there are some points that you will need to take into consideration:

  • Manually checking the reconciled transaction entries is better than the automated
  • Manual checkup of reconciled transactions has more probability of finding the errors and rectifying them easily, that is best accounting practice as well.
  • Manually undoing the reconciliation, you did have advantage of doing the changes in the reconcile opening balance, this will help you fix issues related to balances and most of the accountants and professionals do the same thing.
  • In your case as you already informed us, you did create an adjustment entry to square off the difference, that entry need to be found and deleted as that could cause issues.

In order to know how to undo the reconciliation in QuickBooks Online, you should visit the following article: How to Reconcile Bank in QuickBooks Online – Step by Step Instructions.

If you need more help regarding this issue then feel free to contact our expert ProAdvisor at 1-877-263-2742.

Answered on October 15, 2019.

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