Cleared Cheque Reversal

Hello there, @Shelagh37.

Yes, you have the option to void the original transaction that did not go through and recreate the entry from when the payment became successful. Just use a bank deposit to show the returned funds to increase your bank balance again.

There are also a lot of ways to handle this depending on your scenario. See this link for the steps: Record a supplier refund in QuickBooks Desktop

Just keep in mind that voiding an old entry might affect past reconciliations as it changes the bank balances. You'll need to re-reconcile previous month's accounts to ensure the balances are accurate. 

Since this issue requires in-depth accounting processes, we do recommend that you reach out to an accounting professional first. We can only provide the steps you need to do in QuickBooks, but handling your books and doing adjustments for previous reconciliations is best assisted by your accountant.

If you don't have one, we can help you find someone to help you. You can visit the following link to locate accountants based in the US: https://quickbooks.intuit.com/find-an-accountant/

Just for your reference, visit this link for QuickBooks Desktop help hub.

Visit us anytime for additional questions or concerns. I'll be right here to help you out. Have a good one!

hi there,

im kinda new to the updated version of qb.  i need to undo cleared checks and deposits that have not been matched yet.  i was confused and thought that cleared and matched were similar but they are not and now i need to undo the ones i cleared.  can you help?

thanks

mrouse

You can easily revert cleared checks and deposits by clicking the checkmark to make it blank, mrouse. Let me show you how.

Remember that reversing a cleared transaction could adversely affect the account's reconciled balance. 

1. Go to the Banking menu and select Use Register.
   
2. Choose the account with the cleared checks or deposits.
3. Locate the transaction you want to undo.
4. Click on the transaction that has a checkmark to make it blank.
   

You can match transactions to confirm that the entries on your bank statement accurately reflect those recorded in your account. I recommend checking out this article which outlines the procedure for matching your banking transactions: Add and match Bank Feed transactions in QuickBooks Desktop.

I'm also sharing this guide anytime you need help doing or fixing a reconciliation: Learn the reconcile workflow in QuickBooks.

If you have any more questions as you go through the process of matching your transactions, or if there's anything else I can assist you with, please don't hesitate to reach out. I'm here to help ensure everything runs smoothly with your account.