Undoing a completed reconciliation allows you to reverse the reconciliation process when errors are discovered after a reconciliation has been finalised and locked. This capability is essential when you need to correct mistakes such as matching to the wrong statement balance, including incorrect transactions or missing important entries that affect the reconciliation accuracy. The undo function safely unmarks all matched transactions without deleting any data, preserving the complete audit trail while allowing you to make necessary corrections.
Reconciliation undo should be used judiciously as it affects locked accounting periods and may impact financial reports that have already been generated or distributed. Common scenarios requiring reconciliation reversal include discovering duplicate transactions after completion, identifying bank errors that require adjustment, adding missing bank fees or interest charges, or correcting data entry errors in transaction amounts or dates. The system maintains detailed logs of all undo actions including who performed the undo, when it occurred and the stated reason.
Exacc provides controlled access to reconciliation undo functionality with appropriate security measures and approval requirements. The process includes mandatory documentation of why the reconciliation is being undone, verification warnings before proceeding and complete audit trail preservation. After undoing a reconciliation, you must re-perform the reconciliation process correctly, ensuring all issues are resolved before finalising again.
Need to reverse a completed reconciliation? Follow our detailed guide below to safely undo and correctly re-perform your bank or credit card reconciliation.
Reverse completed reconciliations, make corrections and re-reconcile with proper documentation
Your reconciliation has been corrected and re-finalised - errors have been resolved with complete documentation and audit trail preservation.