Note: This article was first published on Oct 28, 2007 @ 19:21. The material is still good. I’m republishing to bring it forward for tax season, and for testing the behavior of RSS on republished material.
Undoing multiple reconciliations in Quickbooks may roll the internal opening balance for a reconciliation to $0.0, despite whatever value the initial register entry. Here is one way to deal that.
- Go to the first transaction.
- Note amount of first transaction.
- Note that date of the first transaction.
- Start the reconcile.
- For an initial balance of 0.0, choose the
date of the first transaction for the
reconciliation date, and the amount of the
first transaction as the Ending Balance. - There should be only one relevant transaction
on or before the reconciliation date, viz.,
the opening balance. Reconcile that. - Proceed as normal for reconciliation.
- Field tested.
Note: Quickbooks only allows undoing the “last” reconciliation. What this means is that it only backs out reconciliations one at a time. This really threw me, and resulted in me hiring an accountant to square away a set of poor reconciliations. But it is possible to back out at least 8 months of reconciliations in an account, taking it all the way back to the beginning.
