QuickBooks is one of the best accounting software for the business organization that wishes to manage their business digitally. Reconciliation in QuickBooks helps to maintain the accuracy of accounts balance. This process is important because it checks transactions on the statement given to you by the bank and matches them with every transaction recorded in QuickBooks. Sometimes users face QuickBooks Reconciliation Problem when the journal entries have been changed or deleted and this is where you might need to Undo Reconciliation in QuickBooks.
In this article, we will guide you on how to solve problems when QuickBooks online can’t undo a reconciliation. We recommend you to read the whole article to get the complete information on QuickBooks online how to undo a reconciliation. Feel free to communicate with us at our toll-free number 1.855.738.2784 if you face any mistrust. You can even reach our website to know more about QuickBooks.
Reconciliation Problems in QuickBooks
The discrepancy in QuickBooks reconciliation happens due to change in past account reconciliation. Solving these problems could be quite frustrating and time taking. There are two primary reasons for this problem.
- Arrangement in reconciliation.
- Maybe because the transactions of past reconciliation are added, deleted, or changed.
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Quick Steps to QuickBooks Online Undo Reconciliation
Firstly, you must check your opening and closing balance are accurate.
- Open your QuickBooks, select the Report menu, and then click on Banking.
- You must select Reconciliation Discrepancy from the Banking section.
- Now you must select the account currently you’re reconciling and then click on the Ok button.
- Next, you must review the report and look for any discrepancies.
- Further, contact the person who made changes.
- Once you know the reason behind the changes, you must edit the transactions as per requirement.
Verify Missing Check Transactions
- Now review the report.
- Navigate the transactions that have entered on the report but not on the bank statement.
- In case some transactions are not on your bank statement, then they shouldn’t be on your reconciliation.
Compare Bank Transactions with QuickBooks
- Select the Report section, go to the Custom Reports, and then click on the Transaction Detail.
- Now under the Display tab, select the Date From and Date To section.
- In the Date From, choose the earliest date for the account. In the Date To, you must choose the date of your last reconciliation.
- No go under the Filters tab, and click on the Account field menu.
- Select the account you’re reconciling and choose Entered/Last Modified field, set the date of your last reconciliation in the Date from.
- Now you must click Ok to run the report.
- Navigate the transactions that don’t match with your bank statement.
- You must consult the person who made changes.
- Once you are aware of the reason, you must edit the transaction.
Seek More Help!
This article is about solving QuickBooks Reconciliation Problems. In case you find any doubt, feel free to dial our toll-free number. 1.855.738.2784 You can also contact our website to learn more about QuickBooks.