It is actually very easy to reconcile your bank statement but sometimes there is a need to unreconcile and remove an individual transaction from a completed reconciliation.
This usually happens when you added a transaction to reconciliation by mistake. Don’t worry as here in this article, you will learn how to remove, undo or delete a reconciliation in QuickBooks Desktop as well as Online.
In the Desktop versions of QB, you can undo the last reconciliation all in one step. In order to use QuickBooks Online bank reconciliation, you must re-reconcile each transaction separately via the Register.
- Need for Undo Bank Reconciliation
- Benefits of Reconciling your Accounts in QuickBooks
- Follow the steps to undo or delete a reconciliation of an account
- How to Undo Reconciliation Manually?
- How To Delete/Undo Bank Reconciliation In QuickBooks Online Accountant version(QBOA)
- How To Unreconcile in QuickBooks Online Version
- QuickBooks Desktop Versions:
- Frequently asked questions
Need for Undo Bank Reconciliation
- Incorrect date – The payment was recorded for an incorrect date.
- Uncleared transaction – All transactions must be properly checked and must see that there is no remaining check which has to be cleared in the coming future.
- Incorrect bank reconciliation– Proper scrutiny must be done to see that there is no forced reconciliation in the bank statements.
- Incorrect bank statement– The bank statement date was incorrect or not an actual date.
Benefits of Reconciling your Accounts in QuickBooks
- The users can simply identify the variations in income.
- You can immediately take crucial actions when you observe any possible indications of risk.
- Catch several hidden bank errors.
- Prevent you from fraud by employees, vendors, etc.
Follow the steps to undo or delete a reconciliation of an account
Keep in mind that you should follow and perform each steps carefully as you can only unreconcile one transaction at a time and one mistake can unbalance your accounts.
Hence first of all review your account before changing anything and make sure you are doing the right changes.
- First of all, open the QuickBooks and click on the Banking from the left menu.
- Now, Choose Banking at the top and go to the Register/Account History.
- Search the transactions that you need to be unreconciled, one at a time.
- Navigate to the emerging tab of transactions.
- Now, you have click on R, it is in between the amount and deposit column.
- After that, It is asking you for permission to make necessary changes to the transaction status.
- Click on Save.
- After Clicking, You’ll see a pop-up that will display on your screen with the option of “Yes”.
- Click on Yes.
How to Undo Reconciliation Manually?
Steps to undo reconciled data manually are as follows:-
1– Click the gear icon and then click on the chart of accounts.
2– Search for the account row that you want to see and then select the account history/view register.
3– After that, identify the particular account you want to edit and then go to reconcile status which is shown by a checkmark beside it
4– Select the top mark to change it. Remember the following Acronyms- C(cleared), R(reconcile) and blank (neither cleared nor reconciled)
How To Delete/Undo Bank Reconciliation In QuickBooks Online Accountant version(QBOA)
Here, we will discuss some easy steps to undo or delete a reconciliation in QuickBooks Online Accountant version.
- First, you need to click on the gear icon that is in the top-right corner of the screen.
- Next, go with the Reconcile option under Tools.
- Select your bank account.
- Now, you’ll notice an UNDO button just near to the Auto Adjustment column.
- Simply click on the UNDO button.
- Now, you got a message on your screen, click on OK
- Soon, you’ll see the success screen will open, click on OK again.
How To Unreconcile in QuickBooks Online Version
Here, we will discuss some easy steps to undo a reconciliation and transactions for QuickBooks Online.
- Quickbooks Online reconciles transactions separately, so you must reconcile it once at a time.
- To start, choose “Registers” from the Banking menu.
- Then choose the account from the Register Name drop-down menu.
- Choose the transaction you want to unreconciled, and then delete the “R” at the top of the transaction to change its status to unreconciled.
Note: If you plan to reconcile each of the transactions for a period, it may help to first print a list of reconciled transactions using the Reconcile alternative from the Banking menu.
QuickBooks Desktop Versions:
The process of Undo a reconciliation in Quickbooks Desktop the easiest among all the versions of QuickBooks. We will discuss here the steps to undo a reconciliation. If you use a desktop version of QB, such as QuickBooks Pro or QuickBooks Premier.
- Open QuickBooks, and directly go to the banking option.
- Here, find the transaction that you want to reconcile.
- Now, click on the reconcile now option.
- At last, select the option “Undo Last Reconciliation.”
Meanwhile, If you are unable to come out with the issue or get stuck on any step, have patience and call to our support team on +1-855-441-4417 and let the support executive handle your problem. We are available 24*7 for the customer support.
To understand more about QuickBooks Chart of Accounts.
Frequently asked questions
What are the benefits of reconciling your data in QuickBooks?
Ans– There are multiple benefits to reconcile the accounts in QuickBooks-
- To determine the fluctuation in incomes.
- At the time of risk decisive action can be taken.
- Aid in stopping fraud from employees,vendors etc.
What is a bank reconciliation statement and why we prepare it?
Bank reconciliation statement is an explanation of the difference between bank balance as per passbook and bank balance as per cash book. Sometimes they do not tally with each other to know the difference between both of them we create a bank reconciliation statement.
Why does QuickBooks reconcile?
QuickBooks reconcile to make sure that the beginning balance and transaction listed in your Quickbooks matches your monthly bank balance or not.
How often should user reconcile accounts?
Users of Quickbooks should reconcile their accounts at least once in every month, and it must be crossed checked after every six months as it will not create any hustle that books are not getting reconciled at the end of your bank reporting period.
What are the possible reasons to undo bank reconciliation?
Ans– The reasons behind undo bank reconciliation statement are-
- A payment was recorded for an incorrect date.
- Bank check was not cleared out which was passed in Quickbooks account.
- Reconciliation was forcibly balanced which needs to be corrected.
- Date entered was incorrect.
What does the reconciliation of accounts mean?
Basically, in reconciliation, we make simple do the scrutiny of the balances of the statements of our cashbook and passbooks (here cash book means the statement of Quickbooks and passbook it means the statement given by bank) that they both are having the same balances or not.
Is it possible to reconcile the data manually?
Reconciliation can be done manually if you need to edit fewer transactions but if you have too many transactions follow the methods in the article.
Does manually editing the reconcile status may reveal the root cause?
No, manually editing the reconcile status may not reveal the root cause you are trying to solve the problem, it may even create even more problem then you had set out to solve the problem.
Is manually reconciling is worthy?
No, not at all as it as manually doing a reconcile may change the sum of all your reconciled transaction, known as reconciling opening balance. To prevent issues related to your balance the best thing to do is consult with your accounting professional.
How to recover delete transactions?
There is no regular method to recover deleted transactions. But it can be done by following the steps to recover from deleted items.
- Click on reports and select accounts and taxes.
- Then click on delete transactions.
- Enter the date to delete reconciliation and re-enter the transaction.
- Sales and purchase order transactions cannot be recovered.
Is there any alternative to QuickBooks?
The best alternative to QuickBooks, is Freshbooks which is an award-winning software with excellent cloud accounting app with a great support system to make your integration smooth and easy. It is available in five different languages supported by many devices and be assured of its function irrespective of where you are.
Suggested Read: How to Delete a Deposit in QuickBooks
Hope, this blog helps you in understanding how to undo or delete a reconciliation in QuickBooks Online account version, QuickBooks Online and in the Desktop.
If you are still unable to do so, then feel free to contact us. For any further query do take help from professionals and you can ask your question at QuickBooks community also. They will surely help you out from your issue.