Skip to main content
E
EBFinancials
December 19, 2018

Reconciling few banks account under the same company

  • December 19, 2018
  • 1 reply
  • 0 views

My company holds more than one business checking account
When using QBO, can I add more than one bank account to the same company file?
Also, at the beginning, the business didn't have a business account and some sales-income was deposited into a personal checking - How do I categorize those when adding them to the QB?

    1 reply

    SouthernStacy
    SouthernStacy
    December 19, 2018

    Hi there!

    Yes, you can add more than one bank account or credit card to QBO.  While signed in, navigate to the Banking tab and select the green 'Add Account' button in the top right.  Select your bank and then enter your online login credentials for that banking institution.  Depending on your subscription level (and if you have an accounting firm helping you) QBO will pull over at least 90 days of previous transactions from that account.  If you need to pull more in you will have to do that manually by going to the 'Update' dropdown on the top right of the banking center and selecting 'File Upload'.  These files should come from your banking institution's website through the download option.  Then you can start matching and adding transactions as necessary.

    Thanks, hope that helps!!

    -Stacy

    https://www.manage-accounting.com

    SouthernStacy
    SouthernStacy
    December 19, 2018

    You could use a bank transfer to deal with the amounts that were deposited into a personal account (transfer the amount from your bank account into your business bank account, then classify accordingly).  You could also use the Sales Receipt function to get the transaction(s) for the income collected into QBO.  

    https://quickbooks.intuit.com/community/Income-and-expenses/Should-I-use-an-Invoice-or-a-Sales-Receipt/m-p/185737

    Happy Holidays!

    -Stacy

    https://www.manage-accounting.com

    E
    EBFinancialsAuthor
    December 24, 2018

    Question 1:
    If I use the Sales Receipt function, shall I import the data (transactions) from the personal bank account into QBO?
    If not, shall I list the receiving bank account in the Sales Receipt description?

    Question 2:
    What if I have old transaction that can no longer be downloaded as a QBO-compliant file from my bank account. I do have those transactions in the monthly PDF statement.
    Do I need to enter them to the QBO one by one manually?

    Terms & ConditionsAccessibility statement