How to Reverse a Reconciliation in QuickBooks Online?
To reverse a reconciliation in QuickBooks Online (QBO), you'll need to manually undo it, as QBO doesn't have a direct "undo" button for reconciliations unless you're an accountant using QuickBooks Online Accountant. Here's how to manually reverse a reconciliation:
Steps to Manually Undo a Reconciliation:
Go to the Reconciliation Page:
- Sign in to QuickBooks Online.
- In the left-hand navigation bar, go to Bookkeeping or Accounting, then select Reconcile.
Find the Account and View Reconciliation Report:
- Choose the Bank Account or Credit Card Account from the drop-down list you want to undo the reconciliation for.
- Select History by account to see past reconciliations.
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Identify the Reconciliation to Undo:
- Find the reconciliation that needs to be reversed from the list.
- Review the report to ensure you're undoing the right transactions.
Edit the Reconciled Transactions:
- Go back to the Chart of Accounts.
- Open the account with the transactions you need to change.
- Find the specific transaction that was marked as reconciled (transactions will have an "R" status in the checkmark column).
- Click on the transaction to edit it.
Uncheck the Reconciliation:
- Once inside the transaction, locate the Reconciliation Status (the "R" in the transaction line).
- Change the status from "R" (Reconciled) to blank (not reconciled). This will remove it from the reconciliation.
- Save the transaction.
Reconcile Again (Optional):
- If you need to reconcile again with the correct transactions, you can redo the reconciliation process once you’ve undone the necessary entries.
For QuickBooks Online Accountant Users:
If you're using QuickBooks Online Accountant, you can undo an entire reconciliation with a few clicks:
Log in as an Accountant:
- Sign in to QuickBooks Online Accountant.
Access the Reconcile Section:
- From the left menu, select Accounting > Reconcile.
- Choose the account you want to undo the reconciliation for.
Undo the Reconciliation:
- In the History by account tab, find the reconciliation you want to reverse.
- Select Undo on the specific reconciliation.
- Confirm to complete the process.
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