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Vhan2021
March 24, 2021
Question

Merge 3 bank accounts

  • March 24, 2021
  • 1 reply
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scenario includes 2019 balances and 2019 is already close. The question is how did they close the book missing six months worth of expenses?
 
What I plan to do is add the six months worth of expenses to come up with the correct beginning balance in 2020. 
 
Scenario:
previous accountant deleted the BOA 5301 with running balance from 2018 upto 
June 6,2019 the balance is tally with the bank statements. June 7, 2019 to November 2020 didn't show any expenses on that account only the payments so November 10, 2020 the previous bookkeeper force close the Bank Account so QB made an entry to close the balances. February 2021 I came in and saw that there is no bank account for 5301 and 3974 (3974 is a sub account of 5301) while reconciling I noticed the error for the running balance. 
 
What I want to do to correct the error: 
Add the expenses on the deleted bank account then close it properly Because I already have a running balance in 5301 and 3974 separate accounts. I'm also thinking of merging all these 3 accounts. If so, what would be the effect on the reconciled items? under these 3 accounts? Please advise what would be the best way to do this.
 

1 reply

Rustler
Rustler
March 25, 2021

Check the chart of accounts, and set the filter to show all accounts, both active and inactive.  Nothing that has a transaction can be deleted, so those two account are probably there but made inactive.  They can be made active again.

 

If the three accounts you talk about are the same account at the bank, yes they should be merged.

You say it only shows payments, payments are either an expense or a loan payment for the most part.  If the payment show a bill or accounts payable as the expense, that is what it is.  It pays the bill which posts the expense to the accounts

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