Here’s the Best Way to Undo Reconciliation in QuickBooks

Summary:Through this article, we will guide your why and how to Undo Bank Reconciliation in QuickBooks. We have also discussed the procedure to delete Reconciliation in QuickBooks.

QuickBooks has changed the whole way of handling business accountancy in the market. It has advanced features which help to increase the productivity of the business. Users can easily Undo Reconciliation in QuickBooks when the Reconciliation of bank account is not done correctly. It helps you to catch and stop the frauds done by the employees and vendors.

Here in this article, we will guide you the procedure to delete and undo Reconciliation in QuickBooks. Besides, we will also provide you with information on why Reconciliation is essential. If you are struggling to reconcile bank account in QuickBooks, then stick to this article until the end.

What is Reconciliation in QuickBooks and How it is Beneficial?

Reconciliation your Bank Account in QuickBooks helps you to compare your bank statement to what’s in QuickBooks for a specific period. We highly recommend you to reconcile your bank account in QuickBooks routinely to ensure that they match your real-life bank account.

Let’s discuss the Benefits

• It helps to record the entire financial statements and bank statements in QuickBooks application.
• Reconciling QuickBooks ensures that all the transactions that occurred are entered in QuickBooks.
• It helps you to create accurate financial reports so you will be more confident in making crucial decisions.
• You can easily predict the future risk of the business.
• With the help of Reconciliation, you can easily capture various unseen bank errors.

Note:-

Before you proceed to reconcile in QuickBooks, there are certain things which you must keep in mind.

• Create a backup of your Company File.
• Keep your Bank statement handy.

Steps to Reconcile in QuickBooks Online

• At first, log in to your QuickBooks Online Account.
• Click on the Gear button and then select Tools.
• After that, click on the Reconcile option.
• Now, go to the Accounts section and from the drop-down menu, select the account that you want to reconcile.
• Now, you must enter the ending balance and ending date based on your bank statement information.
• After that, match the transactions to your bank statement that you have kept handy. Make sure to tally them one by one.
• To find the transactions easier, apply filters.
• Continue doing it until the difference field is zero.
• Once you see the success page, that means the reconciliation process is completed.

Undo a Reconciliation in QuickBooks Desktop (Why & How)

• You must undo bank reconciliation when the payment was recorded for an incorrect date.
• When the transactions were adequately checked off but not cleared.
• The bank statement date was incorrect.
• Bank reconciliation was not done correctly.

QuickBooks users generally ask the question that “How do I undo a reconciliation in QuickBooks Desktop”. Read the steps given below to know the process.

• At first, you must sign-in as an Administrator on Windows.
• Now, open your QuickBooks Desktop.
• After that, choose the company file and then go to the Banking menu.
• Click on Reconcile Now option, on the Banking window.
• Finally, to finish the task, click on Undo Last Reconciliation.

How to Delete Reconciliation QuickBooks- Step-By-Step Guide

• Login to QuickBooks Online and click on the gear icon.
• From the Tools section, click on the Reconcile option.
• Now, click on the bank account for which you want to undo Reconciliation.
• Next, place your cursor on the reconciliation month to undo the needful. 
• Navigate the UNDO button and tap it once you found.
• After that, click on the OK button when the message prompts.
• Finally, a success screen for the task will appear, again, click OK to confirm the changes.

FAQ

Question-Can you Undo Multiple Reconciliations in QuickBooks.
Answer:In QuickBooks Desktop version, you can undo multiple previous Reconciliation. But, if you use QuickBooks Online, you must unreconcile each transaction individually.

Article Summary

In this article, we have discussed how to Undo Reconciliation in QuickBooks and how to delete Reconciliation. There are several other essential information which we have mentioned in this article, such as benefits and critical factors in Reconciliation in QuickBooks.