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M
Marbech
September 25, 2022
Question

Two checking accounts when I only have one

  • September 25, 2022
  • 1 reply
  • 0 views

I have discovered that what purports to be my business checking account ("business checking 8038", which is showing as a bank account in chart of accounts) register has credit card transactions in it (i.e. expenses paid with the credit card.) Also, there is a second account called "business checking", which is not showing as a bank account, but has the opening balance and otherwise appears to have the business checking account transactions in the register.  What happened and how can I possibly fix this? If I can't fix it, can I delete both and start over? Thank you. 

1 reply

R
ReymondO
September 25, 2022

Good day, @Marbech.

 

Thanks for sharing the details of your concerns in the QuickBooks Community page. 

 

Your duplicate business checking account (not a bank account) might be created by someone who has access to your QuickBooks company. If its transactions aren't intended for this account, we can simply open each and post them to the correct bank. 

 

Let me show you how:

 

  1. Go to the Accounting menu and select Chart of Accounts.
  2. Look for the other checking account, then click View register.
  3. Review each transaction and click Edit.
  4. Choose the correct account from the Account drop-down list, then select Save and close.

 

Repeat the steps until all of your transactions are posted to the correct business checking account. When you're done, you can deactivate the duplicate account. That way, it won't show on your list. 

 

From the Chart of Accounts, look for the bank and click the ACTION drop-down list. Then, select Make inactive and click Yes to confirm. 

 

If you wish to start over, you can inactivate both accounts. Please know that inactivating accounts with a non-zero balance will create adjusting entries which might affect your books. 

 

If you're not sure about the process, you can reach out to your accountant for further advice. 

 

Once everything is fixed, you can now reconcile your accounts so they match your bank and credit card statements.

 

Please let me know if you need further assistance in handling your accounts in QuickBooks. Simply add your details in this thread and I'll help you out. Have a good one.

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