Just like in QuickBooks Desktop, bank reconciliation in QuickBooks Online is a separate tangent. Moreover, users reconcile checking, savings, and credit card accounts. You can also undo reconciliation in QuickBooks Online due to various reasons like the payment has been recorded for a wrong date, incorrect statement date.
In this blog, we will discuss the benefits, different reasons and various steps to undo reconciliation in QuickBooks Online, QuickBooks Online Accountant and QuickBooks Desktop.
Benefits of Reconciling your Accounts in QuickBooks
- The users can easily determine fluctuations in income.
- You can take decisive actions when you see any possible signs of risk.
- Capture various unseen bank errors.
- Helps you stop fraud by employees, vendors, etc.
Reasons to Undo Reconciliation in QuickBooks
The users can undo reconciliation in QuickBooks due to several reasons, some of them are listed below:
- The payment was documented for the wrong date.
- The transaction isn’t clear.
- The bank reconciliation was compelled and it is required to correct in a definite order.
- The date recorded in the bank statement is incorrect.
Steps to Undo Reconciliation in QuickBooks Online Accountant (QBOA)
- First of all open QuickBooks Online Accountant and login as an Administrator.
- Secondly, from the drop-down list, choose the company file of the client.
- Now click on Settings icon >> Tools >> Reconcile.
- Go to Reconcile an account page and choose History by an account.
- You have to choose the Account and Report Period to search the reconciliation you need to undo.
- Go to Action column and select Undo.
- Now click Yes to confirm.
- In the final approval window, choose Undo and click on Ok.
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Steps to Undo Reconciliation in QuickBooks Online Edition
You can undo reconciliation in QuickBooks Online edition by following the steps given below:
- You have to open QuickBooks Online.
- Now from the Banking menu, select Registers.
- Go to Register Name drop-down list and choose the account.
- You need to click on the transaction for which you want to undo reconciliation.
- Lastly, delete “R” letter in order to change its state to Unreconciled.
In case you want to reconcile each transaction for a certain period, then you should print a list of reconciled transactions using the Reconcile alternative available in the Banking menu.
Steps to Undo a Reconciliation in QuickBooks Desktop Edition
- Firstly, open QuickBooks and login as an Administrator.
- You have to choose the company file, go to Banking menu and click on Reconcile Now.
- Now click on Undo Last Reconciliation.
This blog will help you understand the purposes of reconciliation and how to undo reconciliation QuickBooks Online. Further, if you face any problem, talk to our ProAdvisor for the best solutions. Call us on our QuickBooks Tech Support Phone Number.