How to feed two checking accounts into one main account in QuickBooks Online

I am switching banks. I would like to know how to integrate or feed debits and credits from both bank accounts into the main checking account in my QuickBooks Online. Is this possible? If so, what problems may arise?

Asked on December 5, 2018 in Banking.
1 Answer(s)

Hello Pete!

Thank you for posting your query on our QASolved Community Forum.

I’m assuming from your question that you would like to set up multiple accounts and then connect it to your bank account in QuickBooks Online. You can do this by following these instructions:

 Set up all the accounts properly

This is the most frequented method to set up a checking account with multiple associated accounts. You have to create a parent account and then set up the other accounts as sub-accounts. Go to the chart of accounts, and you should see different sections for parent accounts and sub-accounts. You can view specific transactions for each account using the reporting feature for each individual account.

Connect all your accounts to Online Banking

If you would like to download transactions to only one account, then connect it only to the parent account. In case you would prefer downloading transactions to your individual accounts, then connect it to your sub-accounts instead. Please note that you cannot connect both parent and sub-accounts to QuickBooks Online Banking.

Reconcile your account

You will simply need to reconcile your checking account (your parent account) since the sub-accounts automatically sync with it.

 

That’s about all you will need. Hope this helps.

Cheers!

Answered on December 10, 2018.

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