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DIETRYING
March 10, 2023
Question

Help with new bank accounts please

  • March 10, 2023
  • 1 reply
  • 0 views

I recently opened 3 new bank accounts at a new bank. I wrote 1 check that was then dispersed into the 3 accounts. So now, I am having trouble matching the transaction. How can I split the 1 check that I wrote into the 3 different accounts that I just opened and linked to QBO? Please help me.

1 reply

J
JamesAndrewM
March 10, 2023

It was beyond delighted to have you back here in the forum. I will gladly help you with your new bank accounts. Let's work hard together and sort this out in just a few steps.

 

The best option is to exclude that transaction and record a new transfer, 3 of them for each of your bank accounts. This way, your registers will be accurate when you reconcile them. Here are the steps:

 

  1. Go to + New.
  2. Select Transfer.
  3. Select the bank account from the Transfer Funds From dropdown list.
  4. From the Transfer Funds To dropdown list, select the bank account that the money is going to.
  5. In the Transfer Amount field, enter the amount transferred.
  6. Edit the Date field.
  7. Enter a description of the transfer in the Memo field (optional).
  8. Choose Save and close or Save and new to complete the transfer.
  9. Click Yes if you double-checked the date.

 

For detailed information, refer to this article: Transfer funds between accounts.

 

You may visit these links to guide you on how to categorize your transactions and reconcile your account flawlessly:

 

 

The Community always welcomes you for further inquiries. Don't hesitate to post any QuickBooks-related questions in the forum. Have a great day ahead!

D
DIETRYINGAuthor
March 10, 2023

Thank you for your quick reply. One more question, do I need to delete the check that I wrote from the transaction list? It is just waiting to be matched under transaction menu

R
Rasa-LilaM
March 11, 2023

I'm here to assist and guide you on how to properly handle your check, DIETRYING.

 

As @JamesAndrewM mentioned, we'll have to exclude the downloaded entry from your bank feeds. You'll have to write a check for each account because you can only match one transaction to multiple transactions in QuickBooks Online (QBO).

 

Here's how:

 

  1. In your company, head to the New menu at the top and choose Check under Vendors.
  2. On the Check screen, select the Payee from the drop-down.
  3. Click the Bank account drop-down ▼, choose the account you wish to withdraw money from.
  4. Complete the check fields you need.
  5. Press the Save and new button to create another check.

 

For more in-depth information about the process, see the following reference: Create and record checks in QuickBooks Online.

 

After completing these steps, categorize the entries and match them to the ones already in QBO. This is to keep your records organized.

 

You can also bookmark the Banking Hub for future use. It covers topics such as account reconciliation, depositing funds, and managing online banking tasks.

 

Fill me in if you have other banking concerns or questions about QuickBooks. I'll jump right back and answer them for you. Have a great weekend ahead.

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