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adding/replacing a new account to existing account

i have opened a new checking account at the same bank to replace my existing account.  they are both operating for another month or two, but if possible i would like to merge them before inactivating the old acct at the bank.  i see the "add account" feature, but want to know if they can be "merged" so reports will combine the data for 2019.  i will use only the new acct starting 1/1/2020    thanks!  bill g

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Best answer 12-07-2019

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Level 2

Re: adding/replacing a new account to existing account

it worked!   thanks Jen_D!!

View solution in original post

6 REPLIES 6
Moderator

Re: adding/replacing a new account to existing account

It's nice to see you here, @EWMG,

 

Yes. You can definitely merge two (2) accounts with the same Account and Detail Type. Here's how:

 

  1. Go to the Accounting section found on the left toolbar.
  2. Click on the Chart of Accounts tab and locate the account you want to make inactive (losing account).
  3. Tap the drop-down arrow then select Edit.
  4. Key in the same name of the account you want to retain on the Name field.
  5. Hit Save and Close.
  6. Press Yes to confirm the merge.

The transactions from the deleted account will be carried over to the winning register. Please remember that the merging process is permanent and cannot be undone at a later point.

 

To learn more about this process, see this article: How to merge accounts, customers, and suppliers.

 

Let me know if you have any questions or need additional help with anything in QuickBooks. I'll be more than happy to extend a hand and share further insights. Have a productive week! Take care.

Level 2

Re: adding/replacing a new account to existing account

WOW, thanks Jen_D,  for your quick and valuable reply.  i'll try it tomorrow.  glad i found the community, never thought to look before.  i have two more issues i have been trying to solve for months, will give them a go tomorrow.  will make QBO life easier, i expect. sure appreciate it!   bill g

Moderator

Re: adding/replacing a new account to existing account

You are most welcome, @EWMG,

 

I'm glad you found this forum helpful. Please know that our doors is always open whenever you need a hand, or if you want to share useful tips for other users, and impart new ideas to our developers.

 

Just mention me on your posts to notify me or add a new comment below. Have a happy week!

 

Jen

Level 2

Re: adding/replacing a new account to existing account

hello Jen-D

i am unsure that i have provided you my intent.  i wish to replace an existing bank account which i plan on closing, due to bank issues, and using a new replacement bank checking account in its place, without losing old information.  the new bank account should upload/download transactions,  and hopefully my rules and such will continue to function.   i wish to have the old and future information "merge" so i can run EOY reports, etc.  i was about to follow your direction, but i think the word "account" may have confused the issue, and i fear making a mistake.  does that make a difference in what i need to do?

thanks,  bill g

Moderator

Re: adding/replacing a new account to existing account

Glad to hear back from you, @EWMG,

 

If you wish to add a replacement account in QuickBooks, you need to add a separate register (account) for it and set up online banking to import the new bank data.

 

Here's how:

 

  1. Go to Banking from the left menu and choose the Banking tab.
  2. From there, click the Add Account button.
  3. Enter your financial institution’s URL or name on the search box and see the results.
  4. Select the bank and click Continue
  5. Follow the on-screen instructions to connect your bank account.

For more information with video tutorials and screenshots, see this article: Connect bank and credit card accounts to QuickBooks Online.

 

After closing the old bank, merge the two accounts. This process will not delete your transactions, instead, all records are combined on to the new register.

 

On the other hand, you can edit the rules to update which accounts the transactions will go once imported. See this:

 

  1. From the left navigation panel, click Banking menu, and go to the Rules tab.
  2. Find the active rule and click Edit.
    rule.PNG

To know more about rules, check out this article: How to set and use banking rules for downloaded transactions?

 

Let me know how things go by adding another comment below. I'll be right here if you need further help with the bank connection. Have a good one!

Level 2

Re: adding/replacing a new account to existing account

it worked!   thanks Jen_D!!

View solution in original post