QuickBooks is cloud-based accounting software, especially, made for small, medium-sized and large business enterprises. QuickBooks help the business in maintaining an accurate record of financial needs and requirements. It offers an integrated feature to its users which known as bank reconciliation in QuickBooks online. In which, the user can track down all the payment transactions related to banks.
First of all, we will consider the QuickBooks Desktop version. If you want to undo reconciliation in QuickBooks online format which you have done in the past, you can do it in just one step. Do all un-reconciliation of all the transactions if you want to utilize the power of QuickBooks Online bank reconciliation; step-by-step unreconciled all the past transactions.
Due to some unfavorable circumstances, the reconciliation of balance sheet in QuickBooks online doesn’t do not tie up with your bank statement. In order to deal with the reconciliation error, you have to pitch in or go in for position or time a monthly reconciliation. Whereas it is quite relevant to undo unreconciled QuickBooks online transactions before fixing any error. Read the article in detail to enhance your undo QuickBooks reconciliation knowledge.
Reasons to QuickBooks online undo reconciliation:
- Incorrect date: The user did a mistake in the past date. A payment entry has been made in the past date. The payment was recorded, but the date was incorrect for the record. The error in statement date can be easily rectified by undo bank reconciliation.
- The transaction is not cleared from the cache: Sometimes, the user makes an entry in QuickBooks, but it does not mean that the entry has been cleared. The user must see otherwise, the only way through is to undo bank reconciliation.
- Wrong bank reconciliation: Mistake can be made by anyone – whether it is human or software. The user or QuickBooks have made an error regarding the reconciliation, which leads to the wrong record of the data. In order to rectify it, the user must go for undo bank reconciliation.
- Incorrect bank statement date: Due to any reason/s, the date on bank statement is recorded incorrectly. In other words, it means an actual date is not printed on the bank statement, which a user can punch in the QuickBooks.
Advantages of Bank Reconciliation transactions in QuickBooks
QuickBooks always offers great features to its users. i.e., to You. There are numerous benefits that QuickBooks holds for its users.
- Record all transactions: If you use QuickBooks for bank transactions, then, QuickBooks collects all the transactions and keep them safe with it.
- Updated reports: How you feel when you see all of your reports are up-to-date? Well, this is surely done by QuickBooks. It maintains and updates all the relevant financial reports, such as Balance Sheet, Profit & Loss, and Cash Flow Statements.
- Cleared Transactions: The transactions which are marked in the QuickBooks will depict the signal of “clear”.
- No Discrepancy: QuickBooks always maintain the books at a secure level. The transactions occurred at your bank level, will also be seen in QuickBooks panel. If there is some difference between your cashbook and passbook, QuickBooks will find that variance.
Ways to delete or undo Reconciliation transaction in QuickBooks
There are always ways to undo the reconciliation transaction in QuickBooks:
- In the First step, locate the option: Banking from the left menu of QuickBooks
- In the second step, click on Banking option, situated at the top.
- The third step is to select the Account at the top.
- The next step says that go to Go to Register/Account History, which can be seen above Action column.
- Then again, look for the unreconciled transactions by one bye, one at a time.
- Highlight the tab on the transaction.
- Press Tab on the R on the top line transaction. It is located between the Amount and Deposit or Charge and Payment amount.
- As the steps go on: clicking in this field will give you permission to change the transaction’s status. It will be done to the desired status from blank = unreconciled to C = Cleared.
- Save progress.
- You’ll get a pop-up displaying this image.
- Press OK, and you are done with the process.
Ways to Undo Reconciliation in QuickBooks Online Accountant
We would like to suggest you on how to go for undo reconciliation, especially, in QBOA.
- In the first step, you should approach the Gear Icon, and click it.
- The second step says that you should “Tap Reconcile under Tools”.
- The third step is relevant as you have to select the bank for undoing reconciliation. Simply, select the select bank account that you won’t go for Undo reconciliation.
- The fourth step depicts that you should hover your mouse over the reconciliation month which you want to go for undo. At this time, you’ll get an UNDO button to the right of the Auto Adjustment column.
- The fifth step depicts that you click on the UNDO button.
- Go for the OK option.
- And finally, the success screen will open in front of you. In the end, go for the OK button.
Our Help Desk Number
To sum up, our Undo reconciliation in QuickBooks online team will surely guide you to know more about Undo reconciliation in QuickBooks. If you get any case related to QuickBooks reconciliation errors or bugs, pick up the phone and call our QuickBooks Support team at +1-805-257-5030.