Top Article Submission DirectoryTop Article Submission Site – New Articles Submitted Daily

It is important to reconcile your account balance to ensure you don’t miss any transactions and financial activity. Without it, you would have no accurate way to trace cash flow and observe where your firm spends money. However, there are times when you spot a mistake in bank reconciliation. Therefore, you would need to undo the bank reconciliation in QuickBooks Online and correct the error. In this blog, we will discover the ways to undo a bank reconciliation in QuickBooks Online.

Why Should You Reconcile And Undo Bank Reconciliation In QuickBooks Online?

Reconciliation is essential to record individual transactions and keep track of financial activities. It helps you identify thefts, financial frauds and validates data accuracy. Moreover, reconciling your account also prepares you for accurate tax reporting. It is hard to keep track of cash flow when multiple people can access business accounts. 

Once you are done reconciling, you might likely spot errors like the wrong transaction is marked moderated, etc. Therefore, you would need to undo bank reconciliation in QuickBooks Online. 

Before You Undo Reconciliation In QuickBooks Online

Undoing or correcting a bank reconciliation would also remove plenty of data from your accounts, such as attachments. Moreover, as changing a reconciliation is a significant step, it is important that you take the precautions listed below:

1. Look for any discrepancies in the account before you undo bank reconciliation in QuickBooks Online.
2. Seek to fix the discrepancies manually if possible.
3. Avoid manually changing the reconciliation status of the transactions.
4. Avoid deleting transaction entries if it’s created.
5. When you undo a reconciliation, it does the same for following reconciliations. Therefore, start with the latest reconciliation and proceed to the older reconciliations.
6. Undo reconciliation in QuickBooks Online doesn’t modify reconciliations done manually. Therefore, you would need to alter those reconciliations entries.
7. You can head to the audit history section to check the manual reconciliations or changes. 

Checkout possible solutions for QuickBooks display issues

Method To Undo Bank Reconciliation In QuickBooks Online Accountant

The privilege to undo a bank reconciliation is only available in QuickBooks Online Accountant. Therefore, the users sticking to the regular QuickBooks would need to undo individual reconciliations. Remember that to undo bank reconciliation in QuickBooks Online, you would need either accountant or admin access. 

1. Begin with signing in to QuickBooks Online Accountant.
2. Now browse for the customer’s company in QuickBooks Online.
3. Navigate to Accounting Menu and click on Reconcile tab.
4. Click on History by account.
5. Choose the account you need to reconcile from the list and date range.
6. Now you would see reconciliations. Click on View Report to access the Reconciliation Report. 
7. Now, review the discrepancies or changes.
8. After that, click on the dropdown menu in the action column.
9. Click on Undo, and confirm to undo the reconciliations. 

After You undo bank reconciliation In QuickBooks Online, you are ready to carry out the reconciliations again. 

Check out this blog also for some more useful content 

Get Assistance!

If you cannot review the discrepancies or are stuck with the bank reconciliations, our Pro Advisors are there to help you. Connect with our experts and allow them to guide you through the reconciliation process and more. Dial our helpline number +1-(855)-955-1942 now.