Evoking top-of-the-line capabilities and features, QuickBooks has successfully made it to the top choices of accounting experts across the globe. With the added flare of the cloud, QuickBooks cloud hosting has had itself widely known for providing finance-based assistance, but it shall also not be forgotten that QuickBooks hosting is highly serviceable for bank reconciliation purposes as well. It is an excellent feature that can be used easily. But never the less; there are some users that find difficulty in performing tasks like deleting or undoing statements.
This is precisely why we decided to put forward a compilation of ways to troubleshoot all the reconciliation problems that might occur when one uses QuickBooks on the cloud. In this blog, we will take care of users of both the versions of QuickBooks- Desktop as well as QuickBooks Online. However, before we get down to the solutions to this accounting software, let us understand the very fact as to why one would want to undo bank reconciliation statements.
There are a handful of reasons, as to why one would need to undo bank reconciliation statements :
Having entered the payment date inaccurately
There might have been an un-reconciled transaction. It is of utmost importance that all the transactions be checked in the right way, and it should be ensured that are no checks remaining with due payments.
There might have been the case of wrong bank reconciliation. A proper examination should be performed in order to ensure that there aren’t any unexpected bank reconciliation statements.
Now, having known a few of the reasons, let us now know how to delete or undo reconciliation for an account :
Start by choosing the Banking option from the left menu.
After that, click on the option that says “Go to Account History/Registry,” located right above the action column.
As the following step, you need to look out for the transactions that require un-reconciling.
While you’re at it, click on the R option placed between the amount and deposit options, in the top line.
Now, click on this to make changes in the transaction status. Doing this will let you change the status from a BLANK space to C; this means it’s cleared.
As the final step, just click on the Save option; after that, you’ll see a pop-up, click YES on it and you’re good to go.
Let us also know about the process for manually undoing reconciliation:
In case the above-mentioned steps, fail to solve your problem, you can also opt for a manual option, as follows:
As the staring step, click on the settings icon on your accounting software and select a chart of accounts.
As and when this account list appears, as the following step, you have to click on the row that you wish to view and then click on the button that says account history.
After having identified the exact account that you need to make changes in, you can change the reconciliation status by clicking on the checkbox the lies next to it.
As you are making this QuickBooks file disaster recovery, it’s vital to be familiar with the abbreviations. Here C means Cleared, R means Reconciled, and BLANK space implies that none of the two options have been chosen as of yet.
Now let us familiarize ourselves with the steps to undo bank reconciliation in QuickBooks Online:
As the initial step, you need to click on the Setting button and followed by that, and you have to click on the reconcile option that you would see, appears below Tools.
For the next step, it’s pretty self-explanatory and straightforward. You have to choose the bank account where reconciliation is needed.
Now, move your cursor over to the month of the reconciliation and on doing so, you will see an Undo option, that appears, you have to click on that, following that you will see that a message will appear, click on OK that is there in that message.
Upon having successfully performed the above steps, you will see success screen will appear on your monitor, you again need to click on OK, that appears there.
Until now we discussed on how to troubleshoot a problem related with single reconciliations, now we shall see how to deal with the case where various statements are reconciled one-after-another:
When you have to reconcile all the transactions at once, you should follow these given steps:
First and foremost, you click on the option that says ‘Registers’ from the Banking menu.
Having done that, now you select the exact account that needs to be dealt with, from the drop-down menu of the Register.
As the next step, you got to click on the particular transaction, that you wish to Un-reconcile, and then erase off the “R” alphabet, that you’d find written right above transaction. You can then change it as per your command.
We are positive that these steps will surely help you in solving the issue in the QuickBooks Online software. In the worst case, where even these steps do not troubleshoot your glitch, we advise that you get the QuickBooks merchant services section checked by an expert.
Let’s look into the steps involved in undoing reconciliation in QuickBooks Desktop
Having a decade’s worth of experience in QuickBooks cloud hosting, we find it safe to say that fixing bank reconciliation problems is way easier on the Desktop version of QuickBooks, than on the online version of it. Follow these steps, to do so:
To start with the process, you just need to click on the Reconcile Now button, that you’d see on the Banking Tab or Screen. You then have to choose the option that says “Undo Last/Previous Reconciliation.” Yes! It’s as simple as that, just a couple of clicks and you’re good to go.
We hope, we were of help
We are in keen anticipation that this blog involving all the detailed steps on how to solve QuickBooks reconciliation problems would have helped you troubleshoot your problem anywhere anytime. For any further assistance, you can also connect with our 24×7 customer support. We will make sure that our Microsoft certified engineers, assist you better with all your QuickBooks related queries.