In the process of accounting for your company, one of the most significant steps is to reconcile your accounts. Typically, when reconciliation is complete, it indicates that all of the information included in your books has been validated against an external source and that the books are ready to be closed for the month. In other words, reconciliation often constitutes the conclusion of the matter. There are times when it is important to undo or delete the reconciliation in QuickBooks.
In the event that you utilize QuickBooks Online as your accounting software, you have the option to undo or delete the reconciliation in QuickBooks. This article focuses mostly on the procedure that users of QuickBooks Online will follow to undo the reconciliation process.
Steps to undo or delete a reconciled transaction in QuickBooks
- If you want to delete or undo reconciliation in QuickBooks, follow the below mentioned steps
- Launch the Reconciliation Report associated with the reconciliation whose results you wish to roll back. To accomplish this, open the left-hand toolbar and navigate to the Reports section. Once there, search for "Reconciliation Reports" in the available options.
- Select the account as well as the statement for which you would like to undo the reconciliation, and then click the View Report button.
- Either print the report or make a copy of the tab, then move the tab that contains the reconciliation report to a different monitor. When you are attempting to undo the reconciliation, you will have the ability to rapidly reference the report
- After that, you need to open the register for the account that you are not reconciling by going to the left-side toolbar, and then click on Chart of Accounts.
- Once the Chart of Accounts has loaded, select View Register from the menu that displays.
- On the screen for the Bank Register, scroll all the way down until you find the transactions that you wish to remove from the reconciled state.
- Make sure the checkbox containing the R is unchecked by clicking on it multiple times, then click the Save button. When you try to reconcile your accounts again in the future, you will see a pop-up warning informing you that the adjustments you made can throw off your balance. If you are certain that you wish to cancel the reconciliation, you should click the Yes button. Repeat the aforementioned steps for each transaction that you no longer wish to be reconciled.
- Now you should navigate to the screen that displays the Bank Register and select the button labelled "Reconcile" from the menu that appears.
- You will receive a notification indicating your account is not yet prepared to be reconciled. This is due to the fact that your opening balance is incorrect by the amount of the transaction or transactions that you choose not to reconcile. To review the transactions that were left unreconciled, click on the link that says, "We can help you fix it." Check to see if these correspond to the transactions that you want to remove from the reconciled state.
- You can now re-reconcile the account after it has been updated.
It will take some time to accurately reconcile your accounts; nevertheless, the accuracy of your bookkeeping and the ability to rapidly discover errors will be well worth the additional effort you put in.
Summing up!
If you find that you are unable to move further with the reconciliation process, or require additional information regarding how to undo or delete the reconciliation in QuickBooks. You can get in touch with us through the number i.e., 1-800-615-2347. Our QuickBooks desktop support team will help you to rectify the issue for you.
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