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teamp3
November 30, 2022
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Merge bank accounts

  • November 30, 2022
  • 1 reply
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We just switched from the desktop version to Quickbooks Online, and all the transactions we have entered so far were entered manually under a bank account.  We just linked our bank account for the first time, with the help of QB customer service, and they recommended setting up a new bank account for the linked bank information.  The problem is, we need to reconcile a year's worth of transactions (due to staffing changes over the past year this has not been done), but I can't use the bank feed to reconcile transactions that were entered in manually under the other account.

To reiterate, these are both transactions from the same bank account, but one has manual entries, and the other is linked to the bank feed.  How do I merge these without losing information?  And which is the best one to use as the primary?

    Best answer by AlcaeusF

    Hello @teamp3,

     
    Thank you for keeping in touch with us about merging bank accounts. Allow me to chime in and provide additional information regarding the process in QuickBooks Online.

    The system moves all the data into the one you want to keep and removes the duplicate when you merge accounts. Our recommendation will depend on which one you prefer to retain and continue using in QuickBooks.

     

    If you want to continue using the account connected to bank feeds, merge the old bank account. The merging process depends on your preference in managing the chart of accounts.

     

    You can still link the old one to online banking if you prefer to retain it. Make sure to choose the existing old account when connecting the account to bank feeds to avoid duplicates.

     

    Also, did you know that aside from merging accounts, you can also combine customers or vendors? I've attached a link you can visit to know more about the detailed steps: Merge duplicate accounts, customers, and vendors in QuickBooks Online.

     

    Add a response below if you have more questions about banking or merging accounts. I'll be around to lend a hand.

    1 reply

    C
    Charies_M
    November 30, 2022

    I'm glad you made your way here in the Community, teamp3.
     

    Allow me to assist you in merging bank accounts in QuickBooks Online (QBO).

     

    Please be aware that account mergers are permanent. This cannot be undone later. The procedures for merging accounts are listed below.

     

    1. Choose Accounting on the left menu and click on Chart of Accounts.
    2. Look for the account you want to keep. Then, click the drop-down arrow next to View register and select Edit.
    3. Take note of the account details and click Cancel.
    4. Look for the account you want to merge. Then, click the drop-down arrow next to View register and select Edit.
    5. Change the account name and click Save.
    6. Choose Yes to confirm the merging process.

    That's all there is to it. You can see more details in Merge accounts, customers, and vendors in QuickBooks Online. 

     

    Please be aware that when merging accounts in QuickBooks Online (QBO), all previous transactions will be transferred to the account you intend to keep. Make sure you've preserved any reconciliation reports that the account may have. Transactions are kept on the merged account and continue to be reconciled in this manner.


    You can also reach out to your accountant for additional advice to ensure your records remains accurate.


    Here’s information that can help organize your chart of accounts in QuickBooks. It provides tips to ensure everything is correct and easier for you to access financial data.

     

    Additionally, we have easy-to-access articles, webinars, and video tutorials that will help you in familiarizing the different tasks, features, and functions of QBO. Below are the following:

     

    Of course, you're always welcome to visit us again if you need help while working with bank accounts. It will be my pleasure. Stay safe and have a great day ahead!

    T
    teamp3Author
    November 30, 2022

    Thank you.  Would you recommend merging the old account with years of manually entered transactions into the new account that is now syncing with our bank account? It has only one year of transactions currently.

    AlcaeusF
    AlcaeusFAnswer
    November 30, 2022

    Hello @teamp3,

     
    Thank you for keeping in touch with us about merging bank accounts. Allow me to chime in and provide additional information regarding the process in QuickBooks Online.

    The system moves all the data into the one you want to keep and removes the duplicate when you merge accounts. Our recommendation will depend on which one you prefer to retain and continue using in QuickBooks.

     

    If you want to continue using the account connected to bank feeds, merge the old bank account. The merging process depends on your preference in managing the chart of accounts.

     

    You can still link the old one to online banking if you prefer to retain it. Make sure to choose the existing old account when connecting the account to bank feeds to avoid duplicates.

     

    Also, did you know that aside from merging accounts, you can also combine customers or vendors? I've attached a link you can visit to know more about the detailed steps: Merge duplicate accounts, customers, and vendors in QuickBooks Online.

     

    Add a response below if you have more questions about banking or merging accounts. I'll be around to lend a hand.

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