Undeposited Funds

PS. Can I undo bank recon when I'm not using QBO accountant? THANKS

You have me, @blueberry123.

I have two ways to handle this and I'm more than happy to share the steps with you.

First, the undo option for a reconciled transaction that is only available in QuickBooks Online Accountant. You can invite your accountant and let them undo the reconciliation period at once.

To invite:

1. Go to the Gear menu, and select Manage Users.
2. Tap the Accounting firms tab, and then hit the Invite button.
3. Enter the accountant's information.
4. Click Save.
5. After inviting, let them undo the entire reconciliation.

Or, manually edit and unreconciled transactions one at a time. Here's how:

1. Go to the Accounting menu. Then, hit Chart of Accounts.
2. Find the account holding the transaction. Then, tap View register. 
3. Choose the transaction you want to unreconcile to expand the view.
4. Review the check column. If the transaction is reconciled, you’ll see an “R.”
5. Click the checkbox. This changes the letter in the box. Keep clicking it until the box is blank. This removes the transaction from the reconciliation.
6. Snap Save. Close the account register. Below is the screenshot of how it looks like.

Once done, reconcile your account again. Check out this guide for details: Learn the reconcile workflow in QuickBooks.

Need help with other tasks in QuickBooks Online? Our articles can definitely help you out, click this link.

Let me know if you still have questions or concerns. I'm always here to assist you. Take care and have a wonderful weekend.

Hi, @ShiellaGraceA ! Thank you for your response. I did what you stated in your reply below. How can I edit my bank reconciliation? Can I edit my opening balance? Thanks!

Thanks for the prompt reply, @blueberry123.

To edit your bank reconciliation, you can follow the steps shared by my colleague ShiellaGraceA above. You can also check this article for additional reference: Undo or remove transactions from reconciliations in QuickBooks Online.

Additionally, yes, you can edit your opening balance in QuickBooks Online (QBO). Before you do so, I suggest working with your accountant to ensure your books are properly recorded after making these changes. If you’re not affiliated with one, you can visit our ProAdvisor page and we’ll help you find one from there.

Nevertheless, here’s how to change your bank opening balance:

1. Go to the Gear icon.
2. Select Chart of Accounts.
3. Locate the account, then go to the Action column and select View register.
4. Find the opening balance entry. 
5. Select the opening balance entry, and edit the amount. 
6. Then click Save.

You can also check this link for more details: Edit an incorrect opening balance.

Once everything looks good, you can now reconcile your account seamlessly.

Please let me know if you need further assistance in managing your accounts in QBO. I’ll be around to help you in any way I can. Keep safe and more success in your business! 

Hi! I've been searching the Opening Balance Entry but I can't seen to find it. Is is usually on the beginning of the page? Please help!

I'm here to explain to you what opening balance is, blueberry123.

The opening balance is the amount of capital or fund in a company account at the start of a new financial period. You'll usually find this depending on the transactions that you've entered in QuickBooks Online (QBO). But usually this is the very first entry in the account. You'll want to make sure that an opening balance was entered for an account when when you've connected the Online Banking so you'll be able to locate the transaction.

Also, QuickBooks automatically downloads your historical transactions up to a certain date. It totals them up and enter the opening balance and date for you and you don't need to do anything else in your end.

However, if the opening balance for one account is incorrect, you can edit it through the View register. 

For your reference, you can run and print reports for specific account to focus on the total amount on a certain period. 

Fill me in if you have additional questions about Opening Balance, Always remember all the time that we're always right here to if you need help with anything else.

Thank you for your reply. The beginning balance I'm going to fix is on July 2019. I'm going to undo my bank recon from that month. However, the beginning balance that shows is the ending balance of December 2019. :( It should be the ending balance of June 2019 so I can undo it starting from July 2019. :'( It's all messed up now. Huhuhu. I need to correct my mistakes. Please help me. 

I appreciate your prompt reply, @blueberry123.

I can imagine the obstacle you’re facing right now. Rest assured I’m here to help and ensure you’ll be able to reconcile your accounts correctly. 

To be guided accordingly, I suggest working with your accountant in undoing the reconciliation. This way, we can guarantee your book is properly recorded. If they have a QuickBooks Accountant account, they can add you to their clients' list and undo the reconciliation easily with their tools. 

If they don't have one, you can invite them to your account. If you’re not affiliated with one, you can visit our ProAdvisor page and find one from there.

Nonetheless, here’s how to manually undo your reconciliation in QuickBooks Online (QBO):

1. Go to the Accounting menu.
2. Select Chart of Accounts.
3. Find the account holding the transaction. Then select View register. 
4. Select the transaction you want to unreconciled to expand the view.
5. Review the check column. If the transaction is reconciled, you’ll see an R. 
6. Select the checkbox. This changes the letter in the box. Keep selecting it until the box is blank to remove the transaction from the reconciliation.
7. Select Save.
8. Then close register when done.

You can also refer to this article for more details about this process: Undo or remove transactions from reconciliations in QuickBooks Online.

Once done, you and your accountant are ready to redo the reconciliation.

If there's anything else you need help supervising your accounts, you’re always welcome to share them with me. I'll be more than happy to work with you again. Have a great day and take care!