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M
MoWantsToLearn
October 18, 2022
Question

I have 5 separate companies under 1 login. 3 of the added 4 are showing in the main business balance sheet. This is not correct. No one from QB can help me fix this.

  • October 18, 2022
  • 2 replies
  • 0 views
Company "A" we converted to online in January 2022.  Company B,C,D,E, we converted in July 2022.  July 2022 is when B,C,D merged into Company A balance sheet and chart of accounts as "bank"  Whenever I try to change the chart of accounts for B,C,D, the system will not let me as there are transactions tied to it.  How do I fix this?  I have spent hours on the phone with QB help, and have not had any luck with getting it fixed.

2 replies

Bryan_M
Bryan_M
October 18, 2022

Hi, @MoWantsToLearn.

 

We know that your time is precious and I'm here to provide information about switching between companies and changing accounts.

 

You can switch multiple companies in QuickBooks Online. However, they're not considered as one, which is why you'll need to manage all data in your company.

 

To learn more about managing multiple companies, you can read through this article: Create or add another company file to QuickBooks Online.

 

Moreover, there are some accounts that we can edit in QBO but can't be deactivated or merged. This may be the reason you're unable to edit and you get a prompt that there are transactions tied to it.

 

There are ways to manage it. For more details on which accounts can be edited, deactivated, or merge, you can refer to this support link: Manage default and special accounts in your QuickBooks Online chart of accounts.

 

In case you have accounts that are no longer in use, you can inactivate them and refer to the steps in this link: Make an account inactive on your chart of accounts in QuickBooks Online.

 

If you have any other questions about chart of accounts. please don't hesitate to reply to this post. I'm here to help.

M
MoWantsToLearnAuthor
October 18, 2022

Hi, thank you.

However, I still need help.  

I have included a screen shot of the balance sheet.

Under Bank Accounts:  Andersen Enterprises 8061, Business Cash Reserve, Andersen Enterprises Savings, are the only 3 accounts that should be there.

750 E Hwy 24 is a different business, should not be on this balance sheet.  I have a separate QB for this.

Andersen Land is a different business, should not be on this balance sheet.  I have a separate QB for this.

Andersen Pack n Ship is a different business, should not be on this balance sheet.  I have a separate QB for this.

Vectra Bank Business Savings should not be there, this account is for a different business.

Vectra Travel Account should not be there, this is not part of the business at all.

 

I cannot get the above to edit in my chart of accounts....  

 

Please help :)

 

 

 

 

Fiat Lux - ASIA
Fiat Lux - ASIA
October 18, 2022

@MoWantsToLearn 

What do you mean by "under 1 login"? Did you use the class tracking in your QB Desktop file to separate transactions from those 5 companies?

LieraMarie_A
LieraMarie_A
October 18, 2022

Hi there, @MoWantsToLearn.

 

Thanks for the additional information. Allow me to chime in and help you with correcting your Chart of Accounts.

 

Are you trying to delete these accounts? When doing so, QuickBooks will create an adjusting entry if it has a non-zero balance. The transactions will remain in your records and affect your reports. 

 

I suggest deleting transactions tied to the accounts first before inactivating them. We can edit them inside the register. Before you start, I recommend reaching out to your accountant. If you don't have one, you may visit our ProAdvisor website to run a search. I also advise exporting them to Excel to save a copy.  

 

Here's how to delete transactions in the register:

 

  1. Navigate to the Accounting menu and select Chart of Accounts.
  2. Click on View Register.
  3. Press on the transaction to view more details and hit Delete. This will permanently remove all of these transactions from QuickBooks Online.

 

Once all done, you may proceed to inactivating the accounts. If they're connected to online banking, disconnect them first by following these instructions: 

 

  1. Go to Banking and select the tile for the bank account.
  2. Click the Pencil icon, then Edit account info.
  3. Mark the Disconnect this account on save checkbox. 
  4. Hit Save and Close.

 

Then, here's how to make them inactive:

 

  1. Go to the Gear icon and choose Chart of Accounts.
  2. Look for the account that you'd like to delete.
  3. Click the Action ▼ drop-down and select Make inactive.

 

You may want to take a look at these articles for additional info:

 

 

Let me know how these steps turned out or if there's anything else I can help you with your banking transactions. I'm always here to help. Have a good one!

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