June 27, 2017 at 5:22 pm #87597
The company I work for has been importing bank and credit card information since March, 2016. They have never done a TRUE bank reconciliation in QB. QB shows that reconciliations were done on 10-6-16, but all the owner did was click the button and accepted any information that was listed. No accounting activity was actually processed, reviewed, corrected, or updated. They have accepted all transactions for both the bank account and the credit card account every month.
I was hired to correct all accounting activities so the 2016 IRS taxes can be completed by Oct.
How do I start over? While your video states that you shouldn’t change anything that has been reconciled, nothing has actually been reconciled.
Any suggestions would be greatly appreciated.July 5, 2017 at 7:55 pm #88670
You did not mention whether you are using the Online or Desktop version of QuickBooks. With that said, you should be able to undo a reconciliation. In both versions of QB, this option should be available when you click on a previous bank reconciliation report. For QBO, you may just need to hover your mouse over the reconciliation report to see the option.
If you cannot locate the Undo Reconciliation option, just type Undo reconciliation in the search box of the Help menu and you should see step by step instructions.
Best of luck to you and thank you for reading!