Guide to Undo a Reconciliation in QuickBooks Online

Did you find an error in your reconciled transactions that needs correction, or are the reconciled transactions incorrect in QuickBooks Online?

If that’s the case, you don’t need to worry; we will help you undo a reconciliation in QuickBooks Online without affecting records and reports, and we will require re-reconciliation to fix any issues. Whether you are an accountant or the user themselves, this detailed guide will help you unreconcile one transaction at a time or the entire month. Ensure that you carefully follow these steps; if needed, consult an expert. Let’s dive deep into this blog.

Undo a Reconciled Transaction in QuickBooks Online or the Accountant Copy 

Let us walk you through the step-by-step guide to undo a reconciliation in QuickBooks Online and the QuickBooks Online Accountant Copy: 

Note: Make sure to discuss to your accountant when making changes to QuickBooks Online transactions. 

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Undo transactions from reconciliations in QuickBooks Online

In QuickBooks Online, you can only unreconcile one transaction at a time. 

Prerequisites

Before moving further, verify that the entered opening, beginning, and ending balances are correct when you reconciled. Talk to your accountant first before making any changes. 

Ensure to remove only the transactions that cause an account balance to be wrong. You could have reconciled the transaction by mistake, or there might be an error you need to delete.

Important Note:  This process will only remove some specific transactions, not the entire process. To undo an entire reconciliation, consult your account. Here are some reasons why you might need to remove all the transactions:  – You have accidentally reconciled a duplicate expense.  – You sorted a transaction into the incorrect category and might need to adjust it.  – You might have reconciled a transaction to the wrong account.

• Follow this link to finish the steps in the QB product. 
• Look for the account with the transactions in your chart of accounts and select View register. 
• Look for the transaction in the list. If it has already been reconciled, you will see an ‘R’ in the checkmark column.
• Now, choose our transaction. 
• Choose the box with the ‘R’ until the box is blank in the checkmark column. 
• Finally, click Save.

Read More- How to Delete and Restore an Account in QuickBooks Online?

Undo a reconciliation in QuickBooks Online Accountant 

Are you an accountant and looking for ways to undo reconciled transactions in QuickBooks Online Accountant? Explore the steps below to undo a transaction or one month at a time. 

Important:

• If you undo an older reconciliation, it will automatically undo all subsequent reconciliations. For example, if it is May and you undo January’s reconciliation, you will also undo the February, March, and April reconciliations, which can lead to errors. So, start with the most recent one and work your way backward.
• Undo reconciliation won’t work on manually reconciled transactions. Transactions left in the register with undo dates may have been manually changed. You can check the transaction audit history to be sure.

1. Sign in to QuickBooks Online Accountant.
2. Look for your customer’s QuickBooks Online company and open it. 

Proceed with these steps once you are in the company file: 

• Choose Accounting from the left menu.
• Move to the Reconcile tab.
• Hit on History by account.

• Select the account you wish to reconcile and choose the specific date range from the drop-down. 
• Look for the reconciliation in the list. 

• Hit on View report to open the Reconciliation Report.
• Review the report for any discrepancies and anything your client wants to make changes to. 
• Once done, select the drop-down in the Action column, and then click Undo.
• Click “Yes” and then “Undo” to confirm.

Note: If you don’t see Undo, make sure you’ve opened your client’s company file from QuickBooks Online Accountant.

If you use a different version, you can easily cancel a reconciled statement manually, instead of reconciling every transaction. Let me explain the entire process to you step-by-step.

Note: Before making changes, consult your accountant to ensure that all transactions are in order and that there are no issues with implementing these changes.

• Select the Gear icon at the top. 
• Choose the Chart of Accounts from the options.
• Now, locate the account and choose the one you are working with, then click on ‘View Register‘.
  Select the transactions you want to unreconcile.
  Click on the R status multiple times until it shows blank or cleared (C).
• Select Save.
• Click Yes to confirm.

Undo or unreconcile an entire month.

Sign in to QuickBooks Online Accountant as an accountant user and choose the client from the drop-down list on the Toolbelt to open your client’s company file.

• Select the Gear icon at the top of the Toolbar. 
• Choose Tools and click on Reconcile. 
• On the prompted Reconcile an account page, select History by account.
• On the History by Account page, choose the Account and Report period to locate the Reconciliation Undo.  
• Click on Undo in the Action column drop-down list.
• Once prompted, click Yes. 
• In the final confirmation window, select Undo.
• Finally, click OK to close the window. 

Note: Undoing a reconciliation of a previous date automatically undoes any reconciliations that come after it chronologically, based on the Reconciled On date.

Conclusion 

In conclusion, you can undo a reconciliation in both QuickBooks Online and the QuickBooks Online Accountant copy. We hope the detailed steps above have helped you make the required adjustments to your reconciled transaction.

However, if you struggle with any problem or need expert assistance, it is recommended that you connect with QuickBooks professionals at +1(866)500-0076. Talk to an expert now!

Frequently Asked Questions 

Is there a way to unreconcile multiple transactions in QuickBooks Online?

Yes, you can unreconcile multiple transactions in QuickBooks Online. To do so, go to Settings> Tools and select Reconcile. Now, select Reconcile an account and continue following the on-screen steps accordingly. Once done, select Undo to undo a transaction of the previous month. It will automatically undo all the transactions chronologically. 

How do I fix the previous reconciliation in QuickBooks?

Before making any changes to the reconciled transactions, be sure to make a backup copy of the company file. Note the ending balance and then carefully enter the correct deposit amount from the previous period, and edit the previous adjusting entry so that the ending balances are equal. Settle the deposits in the current month’s bank reconciliation. If there is an outstanding balance in a bank account, this is usually not a problem.

Can you delete a reconciliation?

There’s no specific option in QuickBooks to delete reconciled transactions, but you can manually undo each transaction from reconciliation. You can scroll above to see how to undo a reconciliation in the detailed guide, or proceed with these steps:

• Select the Gear icon> Chart of Accounts.
• Choose the reconciled account> View register.
• Locate the transaction to make changes. 
• In the Reconciliation Status column, click the box repeatedly until it is blank with an “R.”
• Finally, click Save. 

How to fix a reconciliation discrepancy?

To resolve a reconciliation discrepancy, first use the discrepancy report to identify the error. Then, correct the transaction that caused it by editing the amount, re-entering a deleted transaction, or marking an incorrect transaction as reconciled.

Can you undo a deleted transaction in QuickBooks Online?

No, QuickBooks does not have a direct way to delete a reconciled transaction. However, you can manually add a transaction and then reconcile it using information from the Audit Log. Navigate to the Settings menu (gear icon), select Audit Log, then filter for deleted transactions to find the original details and re-enter them into the system.