How to merge multiple bank accounts in Quickbooks Pro 2018
I am using QuickBooks Pro 2018 and had created a new bank account to download the transactions however a couple of days later I realized that another account for the same bank was already there in QuickBooks Chart of Accounts. Now I have 2 accounts for the same bank and cannot reconcile, how can I merge transactions?
Merging QuickBooks accounts is an irreversible job, so be certain that this is the process that works best for your requirement. You can merge only two accounts at a time, and both accounts have to be the same type of account. In most cases, you can change the account type to match the new account. The accounts you are moving also have to be on the same parent or sublevel. For instance, if one account is a parent and the other account is a sub account, you won’t be able to merge these accounts until you change their positions to match.
Merging Bank Accounts
After adding an additional or multiple bank accounts in the same QuickBooks file, you can merge two accounts if both are from the same bank. However, all transactions in each account must be matched and cleared (accepted by user), and there should not be any transactions pending. If merging bank accounts, you must first deactivate online services for each account and create a new account for online banking via Account “Edit Account” feature by following the on-screen prompts.
- Click on “Lists” menu and “Chart of Accounts.” If one of the accounts you want to merge is at a different hierarchical level, drag the diamond symbol to the left or right on one of the account names so that they both match
- Choose the account you want to remove and merge. Click “Account” and “Edit Account.”
- Change the account type, if the account type is different from the one you are merging. Some account types, such as A/R accounts, automatically created accounts or accounts that have sub accounts attached can’t be changed. If the account types don’t match on the accounts you want to merge, you can’t merge them.
- Type the account name of the account into which you are merging this account into the Name field.
- Click on the button “Save & Close.” Select “Yes” to confirm the merge.
For QuickBooks Online:
Here are some steps to merge the bank accounts in QuickBooks online:
- In the upper-right corner, click the Settings menu (gear icon) and select Chart of Accounts.
- Please ensure that the accounts you want to merge are at the same category and detail type.
- Find and choose the account you do not want to use and click the drop-down arrow next to Account history.
- Click on edit option.
- Change the account name same as the account which you are merging. (e.g. chase saving)
- Click on Save and Close button.
- Click on Yes button to confirm that you want to merge the two accounts.
For more information, questions or instant resolution call our QuickBooks Error Support.