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DS127
September 23, 2024
Question

Adding account to Chart of Accounts - does import add or overwrite?

  • September 23, 2024
  • 2 replies
  • 0 views

I have a chart of accounts (COA) that I need to do a big overhaul on for my client. He's had QBO for several years and I need to add a lot more COA accounts, as well as change the numbering and names on a number of others.  I do NOT want to lose the existing transactions and how they are classified (except when I reclassify them after the import.)

 

I am thinking that it will be faster to set up a spreadsheet with all the added accounts and bring that in. My question is, will it ADD these to the existing COA, or will my existing COA in QBO be totally replaced by the set I bring in?  I can't afford to lose the data that are already in QBO. 

 

I am thinking that because we map the new accounts to existing accounts, that I will be fine. (Yes I wish my client had a backup solution in place! plug for Rewind here.)  If there isn't an account in QBO to map one I am importing, it will just add my new account, correct? 

 

Wanted to check before making a big mess if I am wrong. 🙂 thanks 

2 replies

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Sherrie_F
September 24, 2024

Your interest in choosing QuickBooks as part of your business venture is highly appreciated, DS127. I'd be glad to address all of your questions.

 

In QuickBooks Online (QBO), if you import a new account that isn't already in your Chart of Accounts, it will be added. However, if an account with the same name already exists, the imported account will not overwrite the existing one.

 

To learn more about adding accounts to your Chart of Accounts, you can check this out: Add an account to your chart of accounts in QuickBooks Online.

 

Furthermore, I'll be dropping these resources that can help you if you want to delete, edit, or merge accounts in QBO:

 

 

Let me know if there's anything else you need further assistance with your COA. I'll make sure to assist you in any way I can.

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DS127Author
September 24, 2024

Thanks for the info Sherrie. That's exactly what I was looking for. Yep, trying to find the fastest way to type this all in.

Deity Alpha, thanks for your post as well. But i don't want to have another QBO account out there for my client. 

 

For anyone else who reads this, what I am doing is this. For some accounts,  make the new account with the number and wording that is now being requested. E.g. my client (or rather his new consultant) wants to see "7280 Postage"  where we have a more general (and, we think is better but hey the client wants this) "Shipping" category.  So I make the Postage category and then reclassify all of the 2024 transactions in Shipping over to Postage.  And then deactivate Postage.  That way I can keep the reports looking the same as they were before, for through 2023 because those tax returns are done.

 

The client's new consultant wants to add upwards of 40 new accounts, slicing and dicing to a picayune level which we think is over the top but...there ya go. And they don't have a category that contains COGS shipping which seems like an oversight. Oh well.  Fortunately we will not be doing the bookkeeping!

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Deity Alpha
September 24, 2024

@DS127 

I would recommend to sign up for a new QBO account and remap your CoA. It will take time to migrate your data but your primary QBO account is secured. Another option, purchase a 3rd party migration service to help.

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