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June 27, 2022
Question

I want to close the checking account with quickbooks., It was set up in error. How do I do this and get the pending deposit to my business checking account

  • June 27, 2022
  • 1 reply
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1 reply

June 27, 2022

Hi there, jcwc2021-outlook.

 

Welcome to the QuickBooks Community. I'll be providing details on how removing an account in QuickBooks works. Then, to ensure you can close the checking in QuickBooks and get the deposit by following the steps below. 

 

When you decide to close or you don't need to use the account anymore, you can disconnect or make it inactive. With this, if the checking account is connected to QuickBooks, I recommend disconnecting it. Then, QuickBooks deletes entries that still need to be categorized in the For review tab. However, if transactions are older than 90 days, you're unable to download them into QuickBooks again.

 

Please know that if you see a bank connection error, don't disconnect the account until you fix the online banking errors. Otherwise, the checking account might download duplicate transactions when you reconnect it.

 

Here’s how to disconnect an account from online banking:

 

  1. Go to Bookkeeping and select Transactions. Then, Banking.
  2. Select the tile for the bank account.
  3. Click the pencil icon and select Edit account info.
  4. Choose the Disconnect this account on save checkbox.
  5. Click Save and Close.

 

If the account isn't linked to QBO, you'll have to make accounts inactive from your chart of accounts. Beforehand, I suggest recording a transfer between two accounts in QuickBooks to move or get the pending deposit from your checking account. Then, when you're ready to make an account inactive, here's how to perform the process:

 

  1. Click the Gear ⚙ icon and select Chart of accounts.
  2. Find the account you want to delete.
  3. Click the Action dropdown and select Make inactive.

 

Lastly, you may refer to this article to see detailed steps on how you can upload your accounts to QBO from a spreadsheet: Import your chart of accounts to QuickBooks Online.

 

If you have any other follow-up questions about managing your checking account in QBO, please let me know by adding a comment below. I'm more than happy to help, jcwc2021-outlook. Have a good one!