Merging two bank accounts in QuickBooks has always been tricky, especially the account that is reconciled. If accidentally, you enter a bank account twice, then you need to carefully merge both the accounts because the account you merge might be deleted. If you want to merge two bank accounts in QuickBooks then it is an unchangeable process. So be sure that you follow the guidelines carefully.
To know how to merge bank accounts in QuickBooks, the blog explains how you can merge two bank accounts or combine them into a single bank account.
In Quickbooks, you can only merge two accounts at a time and also make sure that both the accounts have the same type of account. Although, in most cases, you can change the account type to make with the new account.
While merging the two accounts in QuickBooks, you also need to make sure that the accounts you are moving to should be on the same parent or sublevel. For instance, if an account is a parent and another one is in a sub-account or sublevel then you will not be able to merge two bank accounts in QuickBooks until you change the account positions to match. So before you proceed, make sure that you make the account type the same–either parent or sublevel account.
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Hence, in this article, you will find simple ways to merge bank accounts in QuickBooks. If you find a duplicate account, the first thing you need to do is to locate the duplicate account. After you delete or merge the bank account, the transactions present in that bank account will be moved to the remaining account. If you find duplicates then you also need to delete them.
However, while merging the bank accounts, you need to keep a few things into consideration such as the account type should be the same. Let us know more in detail below.
After you are done adding the additional or multiple bank accounts in the same QuickBooks file, you can easily merge two bank accounts in QuickBooks (if both the accounts are from the same bank). However, all the transactions in each account should be matched and cleared which is accepted by the user. Also, there should not be any pending transactions.
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To merge bank accounts in QuickBooks, you need to deactivate online services for each bank account. Then, you can create a new account for online banking through the Account (Edit Account) option by the following prompts that appear on your screen.
If you are thinking about how do I merge two bank accounts in QuickBooks, the above-mentioned steps are easy to follow.
If you have two bank accounts that are similar and want to combine them into a single bank account then you can go through the steps mentioned below. The following steps to merge bank accounts in QuickBooks Online.
As mentioned earlier, one thing you need to keep into consideration that the bank account merging process cannot be reversible or undone.
This is how you can merge bank accounts in QuickBooks. The transactions in the account that is being merged will move to the remaining account at the time of the merging procedure. In case you find any duplicates, you can remove or delete them.
If you want to quickly delete unwanted transactions then you can go to the Register screen, select the transactions and click on the Delete button. This is the easiest way to delete a transaction that is no longer useful. As the final step, you can delete the bank account once the transaction has been removed.
To delete the bank account, click on the account from the Register option. Then, you can click on the ‘use register’ and hit the delete button.
Although merging accounts in QuickBooks is not easy. However, it is not difficult either. All you have to do is apply actions carefully. By following the aforementioned steps, you can easily merge two bank accounts in QuickBooks Online.
However, you have to take care of the account type you are merging. While proceeding with the merge account steps, it would be helpful if you back up your data as the process of merging the account cannot be reversed.
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