Undo Transactions and Client’s Reconciliation in QuickBooks Online

Undo or Remove Transactions , Batch Transaction, and Client’s Reconciliation in QuickBooks Online

If you are looking for a solution to the question of how to undo or remove transactions, batch transactions, and client from reconciliation in QuickBooks. Undoing something is a task, don’t you agree? With QuickBooks, you have the liberty to undo things or mistakes as it has been designed to sort issues that can occur owing to human mistakes or any system-related problems.

This is one of the reasons, Intuit developed QuickBooks to rectify such mistakes so that those mistakes or errors don’t stand in the way of a smooth running of an establishment. It is very unique to this awesome accounting tool that has a corresponding Undo option after every transaction so that once the mistake has been realized, it can be undone. It is a Wow feature. Thus let’s learn how to undo in QuickBooks.

You will see options like Clear, Undo Typing, and Revert to correct glitches. Just knowing the words wouldn’t help. In-depth knowledge of the process is what is required so that process of undoing is successful.

Undo or Remove Transactions from Reconciliations in QuickBooks Online

Every transaction on your bank statement and every transaction recorded into QuickBooks are compared when you reconcile an account. Your accounts are accurate and balanced if everything matches. Know how to delete certain transactions from the reconciliation if you accidentally reconciled one.

Remember that even little adjustments can throw your accounts out of balance. You can only un-reconcile one transaction at a time to lessen the impact. Get in touch with your accountant if you need to start over fully. Whole reconciliations can only be reversed by accountants.

Step 1: Review the account

Make sure you are making the right changes before making any changes. If you are unsure, it is advised to speak to your accountant. A transaction may not be reconciled for a number of reasons. For example, you accidentally reconciled it, or it was a mistake and needs to be removed.

Step 2: Unreconciled a transaction

Here is how to edit and un-reconcile the transaction after you are aware of what needs to be changed.

  • First, you have to go to Bookkeeping and then you have to select Chart of accounts.
  • Then you have to find the account that is holding the transaction.
  • Then you have to Select Account History next.
  • To expand the display, choose the transaction you want to reconcile.
  • Analyze the checkbox column. You will see a R if the transaction has been reconciled.
  • Put a check in the box. As a result, the letter in the box changes.
  • Select it repeatedly until the box is blank. By doing this, the transaction is dropped from the reconciliation.
  • Then you have to select save.
  • You have to close the account history.

Fix other Reconciliation Errors

Your accounting ought to be correct and balanced at this point. Contact your accountant if you need help with your reconciliation or if you need to make changes to a previous reconciliation. They are aware of the future steps because this can become challenging.

Contact your accountant if you need to restart. A full reconciliation can only be reversed by accountants.

Undo a Batch Transaction in QuickBooks Online

  • In the left navigation bar, you have to select the Banking tab.
  • Verify that the account you need to work in is the one that is blue-highlighted at the top of the page.
  • Choose the QuickBooks in tab.
  • Check the boxes next to the transactions you want to reverse.
  • Select the Undo option found at the very top of the list. 

After that, these transactions will return to the For Review section. You can include these in the Excluded area of QuickBooks if you don’t require them. This is how:

  • Select the transactions that need to be excluded from the For Review tab.
  • Click Exclude Selected after selecting the Batch actions button.

The Exclude tab will then get them. From there, you have the option to totally remove the transaction, which can’t be undone.

Undo a Client’s Reconciliation in QuickBooks Online Accountant

You have a unique option for reconciliation if your company uses QuickBooks Online Accountant. In some cases, it is advisable to start over from the beginning when one of your clients wishes to modify or undo a number of transactions on an earlier reconciliation. You can start over by undoing their entire reconciliation.

Undo an entire reconciliation

Download any attachments related to the reconciliation before you begin. A reconciliation can be undone to remove any attachments.

  • All subsequent reconciliations are also annulled when an earlier one is annulled. For instance, if it’s May and you reverse the reconciliation from January, you will also reverse the reconciliation from February, March, and April, which could lead to mistakes. Move backward starting with the most recent reconciliation.
  • Manually reconciled transactions cannot be undone during reconciliation. It’s possible that manually changed transactions still exist in the register for the dates that were undone. To be sure, you can look into the transaction audit history.
  • You have to sign in to QuickBooks Online Accountant.
  • Then you have to find and open the QuickBooks Online company for your customer.

When you are in their company file.

  • You have to go to the Accounting menu.
  • Then you have to select the Reconcile tab.
  • You have to select by account.
reconcile an account
  • From the dropdown menus, choose the account and date range you want to reconcile.
  • On the list, locate the reconciliation.
locate the reconciliation
  • To view the reconciliation report you have to select View report.
  • Review any differences and changes that your customer requests.
  • When you are ready, choose Undo from the dropdown menu in the Action column.
  • To confirm you have to click Yes and then Undo.

Instances where the Feature of Undo in QuickBooks can be used

  • We might have entered incorrect values to make a payment or prepare a bill.
  • Maybe an invoice was meant for a different client and has been named for someone else.
  • The transaction amount was incorrectly entered.
  • The date has been selected incorrectly.

These are just a few examples of when you might want to use the Undo option. There can be more such glitches that you must get corrected. To get this reverted and rectified, we need to follow either of the steps below.

How to Undo in QuickBooks

  • Solution 1: From the File drop-down menu, you need to select the Clear option in order to get rid of any information that you added in a new transaction that hasn’t been saved in the customer, employee, or vendor center.
  • Solution 2: In this step too, you need to click on the File menu drop-down after which you need to select the Revert option so that you could undo everything that you have done since you last saved your data
  • Solution 3: Like the universal method, here too we need to choose the File menu but the only difference is that you don’t have to click on the dropdown. This method is used to clear any transaction related to the bank account pertaining to the last entry.
  • Solution 4: In case you have to undo transactions from any of the following Fixed Price lists, Price level lists, or General item lists, you need to click on the File menu to choose Undo Typing in order to remove the last entry.

By now, the words Clear, Undo Typing and Revert must have made sense. Their usage is really a piece of cake. You needn’t store anxiety if you have wrongly got any transaction done. QuickBooks assist you in getting it rectified as you had never committed those mistakes. It is such a blessing to know that you can make corrections.

In case your query is still unanswered then you should need to get in touch with us on our site at askforaccounting.com or as we provide all the assistance to QuickBooks support US and Canadian citizens.