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ivanna0505
November 12, 2021
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How to clear off a balance on the closed bank account in QB

  • November 12, 2021
  • 1 reply
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Hi guys, hope you could please help me.

We had an account in BoA connected to QB. It shows the balance of $10.82 in QB.

The account was closed and the amount was transferred to another account (also connected to QB).

Which steps do I take to make a bank balance of this account in QB a 0?

 

I tried entering a Transfer manually, tried Journal entries.

All I get is 0 balance in QB, but bank balance is still $10.82 in QB.

Reconciliation also didn't help :(

 

Please help!

Thanks!

Ivanna

Best answer by Giovann_G

Thanks for providing details for the thing you've done so far, Ivanna.

 

I'm here to help you get rid of the balance for the closed Bank of America(BOA) account.

 

You've come to the correct place. If there's a balance under In QuickBooks Balance, you can make a transfer to zero it out. QuickBooks Online can't retrieve the current balance to reflect the Bank Balance as zero once the bank account is closed. After you've completed the transfer, you can disconnect the bank account.

 

Here's how:

 

  1. Go to the Banking or Transactions menu.
  2. Select Banking tab.
  3. Locate the BOA account, then click the Edit pencil icon.
  4. Choose the Edit account info.
  5. Checkmark the Disconnect this account save.
  6. Once done, hit Save and Closed.

 

I've included this article for your reference: Disconnect or delete accounts connected to online banking.

 

In addition, check out this resource to help you balance your QuickBooks account with your bank or credit card statement: Reconcile an account in QuickBooks Online.

 

If you have any questions about balances, you can always reply to this thread. I'm always willing to assist you.

1 reply

G
Giovann_GAnswer
November 12, 2021

Thanks for providing details for the thing you've done so far, Ivanna.

 

I'm here to help you get rid of the balance for the closed Bank of America(BOA) account.

 

You've come to the correct place. If there's a balance under In QuickBooks Balance, you can make a transfer to zero it out. QuickBooks Online can't retrieve the current balance to reflect the Bank Balance as zero once the bank account is closed. After you've completed the transfer, you can disconnect the bank account.

 

Here's how:

 

  1. Go to the Banking or Transactions menu.
  2. Select Banking tab.
  3. Locate the BOA account, then click the Edit pencil icon.
  4. Choose the Edit account info.
  5. Checkmark the Disconnect this account save.
  6. Once done, hit Save and Closed.

 

I've included this article for your reference: Disconnect or delete accounts connected to online banking.

 

In addition, check out this resource to help you balance your QuickBooks account with your bank or credit card statement: Reconcile an account in QuickBooks Online.

 

If you have any questions about balances, you can always reply to this thread. I'm always willing to assist you.

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