Home and Business - undo reconciliation

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  • Updated 1 year ago

Home & Business - Undo Reconciliation

Our bank was late with statements, so we reconciled against what was displayed on our bank's screen.  Muggins here accidentally hit "finished", when we weren't.  How can we undo the reconciliation so we can re-so it against the real bank statement?

Thanks for your help.

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Rick

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Posted 1 year ago

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John Graetz

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Hi Rick.  Pretty straight forward.  Go to Reconcile, but instead of selecting Continue, select Undo Last Reconciliation.  Then follow the next steps.  Unfortunately this will completed erase what you had previously done and you will have to start from scratch.  However, to my mind there is a much potentially simpler method.  If the completed reconciliation actually balanced, which I am sure it did, then why no do a mini reconciliation from the last reconciled balance to the end of month balance.  What you are effectively doing is more than one reconciliation for the month which in nothing unusual at all.  Many people will get statements twice a month and reconciled their bank accounts whilst others may even do it daily if there are a lot of transactions.  There is no law which states that you can only reconcile a whole month's transactions.  See how you go.
John L G