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fiona8
January 15, 2022
Question

Uncleared old bank transactions from previous years.

  • January 15, 2022
  • 1 reply
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How to remove previous years' ( 2018) uncleared bank transactions after the accounts have been audited. The year is not 'closed'. As a result, we have been are unable to reconcile the bank accounts using Quickbooks and have done it manually for the audit since 2018? Do we need to start over on a clean set of accounts and financial year or is there something that we can do that will not effect the financial statements from 2018, 2019 and 2020? 

1 reply

Adrian_A
Adrian_A
January 16, 2022

Hi there, fiona8.

 

When you undo a reconciliation, it will affect the balance of the previous and future reconciliation.  To minimise the impact, you can only un-reconcile one transaction at a time. If you need to completely start over, reach out to your accountant. Only accountants can undo entire reconciliations.

 

Here's how to un-reconcile the transactions:

 

  1. From the Accounting tab, select Chart of accounts.
  2. Find the account holding the transaction and then select Account history.
  3. Select the transaction you want to un-reconcile.
  4. On the Reconciled ( ✓) column, keep selecting it until the box is blank.
  5. Click Save.

 

Then, you can pull up a report to have a copy of your reconciliation for the previous period. This is also a big help so you can avoid issues on doing future reconciliations.

 

If there’s anything else I can do to assist you with undoing your bank reconciliation, please post a reply below. I’m always available to help if you ever need one.

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