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April 17, 2020
Question

Can I have two checking accounts in same company?

  • April 17, 2020
  • 1 reply
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1 reply

Level 8
April 17, 2020

Yes, you can definitely have two checking accounts, tvoc8.

 

We can add multiple bank accounts within QuickBooks, as well as credit card accounts. If you open another bank account, QuickBooks is able to manage that bank account as well via its Bank component. Adding another bank account is done through the Chart of Accounts. I'll show you how:

 

  1. Select Lists from the top menu bar.
  2. Choose Chart of Accounts.
  3. Click the Account drop-down at the bottom, then choose New to create a new account.
  4. Select an account type, then Continue.
  5. Enter the account details then enter the necessary information.
  6. Hit Save & Close when you're done.

Please know that each bank account within QuickBooks remains separate, and transactions are not merged, which eliminates the possibility of one account interfering with another. If you'll set up your account for Bank Feeds, each bank account is linked to its own online banking server and transactions are downloaded separately into QuickBooks. 

 

If you'll want to set up your company payroll for direct deposit, we can only connect one bank account.

 

I'll always have your back, so don't think twice to fill me in if you need assistance in managing your bank accounts. Have a pleasant day ahead.