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November 21, 2024
Question

How to close and hide a bank account in QB? Transaction balance after final statement reconciliation is zero. But the BANK balance shows $3000+ and not sure why.

  • November 21, 2024
  • 1 reply
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    1 reply

    November 21, 2024

    I am here to ensure that your bank account concerns are addressed, Dmgarlo.

     

    Deactivating an account in QuickBooks Online is similar to deleting it, but it is not a permanent action. You can restore the account anytime, allowing you to maintain access to past transaction data for reporting purposes. Accounts are interdependent to ensure balance, so permanent deletion is not an option.

     

    Here's how:

     

    1. Go to Settings ⚙ and select Chart of Accounts.
    2. Find the account you want to delete.
    3. Click the Action ▼ dropdown and select Make inactive.

     

    To permanently remove transactions from an account, you'll need to delete each transaction individually.

     

    Regarding the Bank Balance, it is the actual balance of your bank. QBO relies on the information provided by your financial institution. If you find discrepancies in the balances after reconciliation, consider checking out this article for a detailed guide: Fix issues at the end of a reconciliation in QBO. 

     

    Moreover, you might want to check out this article and learn how to close your books and prevent changes to past transactions: Close your books in QBO

     

    I'm always available in the comments if you require additional assistance managing your bank accounts. Have a good day.