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Coastroad4733
December 9, 2022
Question

Two Accounts Linked to One Bank Account

  • December 9, 2022
  • 1 reply
  • 0 views

Hi all.  I've recently acquired the bookkeeper position at a company and I need help with a reporting issue when running payroll.  There are two different chart of accounts that were set up, one called the "cookie jar" and one called "payroll".  Only one is linked to the bank account for payroll, however, if you do not change the "pay from" account when running payroll it automatically pulls from the one marked "cookie jar".  How can I get rid of that account so that it does not show up anymore?  When I update bank accounts it pulls the bank transactions over to the "payroll" register but it doesn't show up as direct deposit payroll because those are linking in the other register.  I do not even know if I'm explaining this correctly because it's all so confusing.  Hopefully this will make sense to someone who can help.  Thanks so much!

1 reply

MariaSoledadG
MariaSoledadG
December 9, 2022

Let me share some information about getting rid of the bank accounts that are showing when running payroll, Coastroad4733.

 

I can see the importance of deleting accounts showing when running payroll. For now, the option to remove them from the drop-down list isn't possible. You can only get rid of them when you set your account to inactive. You'll want to manually select the account instead when running payroll. 

 

Additionally, you can review the resources from this link for more resources while handling your payroll entries: Help on common payroll topics.

 

Feel free to mention my name in your reply. I'm always around if you need help. 

C
Coastroad4733Author
December 9, 2022

Thanks so much for your reponse.  Is there a way to possibly merge the two chart of accounts since they are basically for the same purpose anyway?  

DivinaMercy_N
DivinaMercy_N
December 9, 2022

I got your back, @Coastroad4733. I'm here to help you merge accounts in QuickBooks Online (QBO). 

 

In QBO, you can simply merge two accounts by editing the account you won't keep and making the details similar to the one you want to retain. Before that, below are a few things you need to know:

 

  • If the accounts have reconciliation reports, save those reports first. Transactions remain on the merged account and stay reconciled.
  • In case both account registers have an opening balance equity transaction, delete the transaction with the most recent date before merging. The older transaction becomes the opening balance of the newly merged account.

 

Once ready, refer to these steps:

 

  1. Switch your QBO account display to Accountant view.
  2. After that, select the Settings icon and click Chart of Accounts.
  3. From there, look for the account you want to keep, select the dropdown under Action, and choose Edit.
  4. Take note of the Save account under (Account Type), Account name (Name), and Tax form section (Detail Type) of the account. It should be the same between the accounts you want to merge.
  5. Next, check if the account is a subaccount or a parent account. The names of subaccounts are indented in the Name column of the chart of accounts list. If it is, take note of the parent account it's tied to.
  6. Once everything is fine, navigate to the Chart of Accounts page again. 
  7. Look for the account you won't keep and select Edit in the dropdown.
  8. Modify the Account name (Name), and Tax form section (Detail Type) so the info exactly matches the account you want to keep. If you need to make this a subaccount, please visit this link for the things you need to keep in mind. 
  9. When finished, select Save and click Yes, merge accounts.

 

For reference, feel free to check this article: Merge duplicate accounts, customers, and vendors in QuickBooks Online. 

 

I'd be willing to lend further assistance if you have any other concerns about merging accounts in QBO. Please don't hesitate to get back here. Have a good day ahead and keep safe. 

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