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D
DSG1
October 2, 2020
Question

Editing the tax category of a Transaction that has already been Reconciled

  • October 2, 2020
  • 1 reply
  • 0 views

I completed my July and August VISA reconciliations successfully and no adjustments had to be made. Since then I discovered that I need to delete the tax that I entered on 3 insurance payment transactions and adjust the tax on 2 meal payments.

When I attempted to make a revision the program told me that "saving the changes could put me out of balance the next time I reconcile. Are you sure you want to modify?" It asked me to select NO or YES.

If I select "YES", will changing the tax really take me out of balance the next time?

I selected "NO" as I did not want to cause a future problem and wanted to investigate the issue further.

I need to make the revisions to ensure that the HST is accurate.

Can I make the revisions and select "YES" and not worry about my next reconciliation since I am not adjusting the total of any transaction.

I do not have the ability to "undo" the reconciliation like many articles and videos discuss.

I have read numerous QB articles and watched videos but am not sure how to proceed.

If I cannot make the revisions to ensure the HST is accurate, what do I do?

I am a new user on QB and need to know specific actions that will resolve the issue. Thanks for your support!

 

 

1 reply

J
JamesM
October 2, 2020

Hi DSG1,

 

Reconciling accounts has never been easier with QuickBooks Online. Well done on successfully reconciling July and August. I'll be happy to share more information about this issue. 

 

Making edits to amounts on past/reconciled transactions will affect your balances. The next best step from here would be reaching out to your accountant for expert advice. If you're not in contact with one, I encourage you to search for one on our website using this link here. 

 

If you'd like to edit/undo any reconciled transactions, follow the steps below:

 

Note: You'll have to undo each individual transaction. If you'd like to un-reconcile in bulk, I recommend reaching out to an accountant that uses QuickBooks Online Accountant. 

 

   1. Select the Gear icon on the Toolbar.
   2. Under Your Company, select Chart of Accounts.
   3. Locate the appropriate account for the transaction.
   4. From the Action column, select Account History.
   5. Identify the transaction to edit.
   6. In the reconcile status column (indicated by a check mark), repeatedly select the top line of the transaction to change the status of the transaction.

        Codes indicate the status of the transaction:
             C - Cleared
             R - Reconciled
             Blank - Not cleared or reconciled

   7. Select Save.
 

For additional tips on how to avoid undoing a reconciliation, take a look at this article: Avoid undoing a reconciliation. To see a more in-depth explanation of how to manually undo a reconciliation without an accountant, check out this article: How to unreconcile a transaction or undo a reconciliation.

 

Since you're a new QB user, I'd like to welcome you to the family! Here's a link with tutorials on how to navigate QuickBooks Online.

 

In case you're having issues, feel free to contact our support team using this link here. Otherwise, leave a comment below. I'll be one message away.

 

 

D
DSG1Author
October 2, 2020

Thank you for all the detail and your support. The owner of the company has an accountant but she is not a Quickbook accountant so I cannot do problem-solving with that office. They have access to our Quickbooks but they are not very experienced with the program.

I have printed and read those articles but they mentioned removing the transaction and not editing it so I was looking for info about editing. I guess that means the transaction has to be removed from the list before it can be edited.

Does the unreconciled transaction go back to the "categorized" page in the banking tab. Does removing the transaction also undo the transaction where it was previously connected with a bank transaction. I need to know where to go to make the revisions.

I have gone to the page and see how there are two coloured lines within a transaction and I know that I need to pick the top one and click until I get a blank.  I have not clicked on anything because I do not see a save button anywhere that is suppose to be selected. Where is the save button? 

After I make the revisions do I just go back to the Chart of Accounts and click the same space until a "R" appears? When the "R" appears does the transaction automatically go back into the report. I see a Reconcile button at the top of the account history page do I have to ever click on it?

Please confirm that I am able to reconcile the transactions that are edited so my reconciliation will return to be accurate and complete at the end of the lovely experience, LOL! 

I will not reconcile a month again until I know the accountant has looked at all the transactions and verified the data is perfect.

Sorry about all the questions! Thank you for your patience and support!

J
JamesM
October 2, 2020

Glad to hear back from you. Removing a transaction from your reconciliation won't remove it from your Banking screen in QuickBooks. Removing the transaction will affect your balances, however, that doesn't any transactions since all the transactions are staying in QuickBooks. Before deleting a transaction from the Banking page you'll get a pop-up warning you that you're about to delete a transaction that's linked to other transactions. To make sure we're both on the same page, it's vital I have a visual representation of what you're seeing on your end. You're more than welcome to reach out to one of our support agents using the contact details below: 

 

Schedule a Callback or Chat: click (?)Help in the upper right > type and enter "Contact support" into the QB Assistant > click Contact Us > explain your situation > click Let's Talk > choose Get a callback or Start a Chat. Support is available from Monday to Friday between 9 a.m. and 8 p.m. ET.

Social Media: Facebook, Twitter, and Instagram.

 

 

One of our specialist can share your screen and walk you through the reconciliation process with ease. Otherwise, here are some helpful resources:

Feel free to ask questions. I'm here to help.

 

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