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November 5, 2022
Question

I need to update and delete two accounts in QBO that I have closed at the bank. How do I do that on QBO?

  • November 5, 2022
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1 reply

November 5, 2022

I've got you covered in deleting the two accounts in QuickBooks Online (QBO), DebHC.

 

The option to delete an account in QBO is unavailable. However, we can make them inactive in the Chart of Accounts. Also, to delete the duplicate transactions, you'll have to activate the account first. You can find more information about inactivating an account in this article: Make an account inactive on your chart of accounts in QuickBooks Online

 

Also, there's a big difference between disconnecting an account from online banking and inactivating one from your chart of accounts. When you disconnect an account:

  • It stays active in the program but you stop QBO from getting your transactions from your bank.
  • You can reconnect the account later.
  • The transactions in your For Review tab will be deleted. You'll want to add the transactions before disconnecting an account.

 

When you inactivate an account from QBO:

  • The account will be made inactive in QBO.
  • If the account has a non-zero balance, QBO will make an adjusting transaction.
  • Although you can make a deleted account active again, you may need to make corrections to journal entries and balances.

 

Before we can make the account inactive, we'll have to disconnect the bank connection first. Here's how:

 

  1. Go to the Banking menu.
  2. Select the account you want to delete.
  3. Click the Edit pencil icon, and then select Edit account info.
  4. In the Account window, select Disconnect this account on save.
  5. Press Save and close.

 

To make the account inactive, follow the steps below: 

 

  1. Go to the Gear icon.
  2. Under Your Company, select Chart of accounts.
  3. Choose the account you'll want to remove.
  4. From the Action drop-down arrow, select Make Inactive.
  5. Press Yes to confirm.

 

Once done, try updating the other bank account in QBO by following the steps below:

 

  1. Go to Bookkeeping, select Transactions, then choose Bank transactions.
  2. Tap Update.
  3. If asked, enter your Multi-Factor Authentication (MFA). Then press Continue update.

 

I'm also adding this great article that can guide you in reconciling your accounts in QBO: Reconcile an account in QuickBooks Online. This link provides detailed information on how to make your books accurate when reconciling.

 

Keep in touch if you need any more assistance with this, or if there's something else, I can do for you. I've got your back. You have a good one.