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sieteverdeinvest
June 1, 2024
Question

Should I un-link & fix accts to be parent/child & re-link: QBO duplicate: 1 account linked 2 times: account# & card#). Un-link, parent/child relation, then re-link bank?

  • June 1, 2024
  • 1 reply
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We recently started our QBO file and when opened, the checking account was set up twice somehow (once under the checking account # & a second time under card #). Now transactions are flowing from both and I am unable to reconcile accounts or anything until I fix it. 
I figured that the best solution would be to create a parent-child relationship (acct # as parent, card as child) and have everything flow through the parent account. However, when I went to create the association I got an error that the account was already linked with QB and would have to be disconnected from QBO to change the parent of the account. 
If there's a better way to do it please let me know, I just really want to avoid messing anything up or losing any records.

1 reply

R
RheaMaeH
June 1, 2024

Let me provide information about parent and sub-accounts in QuickBooks Online and how to disconnect one of the accounts, sieteverde.

 

When connecting to online banking, the bank sends downloaded transactions. If a transaction is downloaded to a parent account, only connect the parent account. If the transaction is downloaded to an individual account, connect the sub-account, not the parent account.

 

Please note that you can’t connect a parent account and its subaccounts. If you attempt to connect both, you’ll receive a message stating that the account is already connected.

 

Additionally, it's not possible to establish a credit card account as a sub-account under a parent checking account. However, this restriction doesn't apply if the account isn't a credit card, allowing it to be a subaccount.

 

Since your checking account is duplicated, meaning you use the account number and the credit card, you need to unlink one of them. You can contact your bank to check where the transactions show for both accounts.

 

Here are the steps to disconnect an account:

 

  1. Go to Transactions, then Bank Transactions.
  2. Choose the tile for the bank account.
  3. Click the pencil icon and select Edit account info.
  4. Select the Disconnect this account on the save checkbox.
  5. Tap Save and Close.

 

When it comes to reconciliation, you must reconcile the parent account because all transactions in the subaccounts roll up into it.

 

For your reference, you may refer to this article on how you can review downloaded bank and credit card entries by matching or adding them to put in the correct accounts: Categorize and match online bank transactions in QuickBooks Online.

 

If you have any further questions or need additional assistance about parent and subaccount, please don't hesitate to let us know. We're here to help. Have a great day.

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