Reverse a Reconciled Transaction

Overview

To reverse a reconciled transaction, open Financials → Bank Feeds → the Reconciled tab, find the transaction and open its actions menu → Reverse transaction, then enter a reason and click Reverse Transaction. Keyhook undoes the reconciliation and moves the transaction back to To Review.

Reverse the transaction

Open Bank Feeds

From the left sidebar, open Financials and click Bank Feeds.

Go to the Reconciled tab

At the top of the transactions screen, click the Reconciled tab. Only transactions that have already been reconciled can be reversed.

Find the transaction

Locate the transaction in the list. Use the column filter icons on Amount, Date or Details to narrow the list down.

Open the actions menu

At the end of the transaction's row, click the three-dots (…) actions menu and choose Reverse transaction.

Enter a reason

Keyhook first checks whether the transaction can be reversed, then shows its amount, description and date. In Reason for reversal, type why you're reversing it (for example "Duplicate payment received") — this is required.

Reverse Transaction

Click Reverse Transaction to confirm. Keyhook unwinds the reconciliation and the transaction moves back to the To Review tab, ready to reconcile again.

Note: Reversing can't be undone. It unwinds the whole reconciliation — every rent period, invoice, fee or bond receipt that transaction was matched to — so only reverse when the match was genuinely wrong.

When a transaction can't be reversed normally

Read why it's blocked

If the money has already moved on, the dialog shows This transaction cannot be reversed normally, followed by the specific reasons — for example Money has already been paid out.

Decide whether to force it

You can still proceed, but forcing a reversal bypasses the standard validation checks. Only do this if you understand where the funds are and how you'll correct the accounts.

Enter a reason and confirm the ID

Enter a reason, then in the Type … to confirm field type the transaction's ID exactly as shown.

Reverse Transaction

Click Reverse Transaction to force the reversal.

Note: A blocked reversal usually means the money has already left the trust account — paid out to the owner, lodged with Tenancy Services, or allocated to a tenant refund. Forcing the reversal won't claw that money back, so you may be left with a balance to fix by hand.

Frequently asked questions

Why can't I see a "Reverse transaction" option?

The option only appears on the Reconciled tab, only for money-in (positive) transactions, and only for finance persons and principals. If any of those don't apply, the option is hidden.

Can I undo a reversal?

No — a reversal can't itself be reversed. The transaction simply returns to the To Review tab as unreconciled, so you can reconcile it correctly from there.

Why does Keyhook say the transaction can't be reversed?

Because the money has already moved and there isn't the balance to unwind it cleanly — typically it's already been paid out to the owner, lodged with Tenancy Services, or allocated to a tenant refund. The dialog lists the specific reasons, and you can still force the reversal with a confirmation.

What is the "Type the ID to confirm" step for?

It's a safeguard on the force path. When a reversal bypasses the standard checks, you must type the transaction's ID to prove it's the one you mean before Keyhook will proceed.

Is a reason required, and where does it go?

Yes — you can't reverse without one. The reason is recorded against the transaction for audit purposes.