Bank Connection Problems

Good day, @JMAD1.

Thanks for getting back to this thread. Let me join in this conversation and help you address your banking concern.

You'll usually get this prompt when you inactivate an account with a remaining balance. Ideally, before making a balance sheet account inactive, you should zero out its balance.

If not, QuickBooks Online makes an automatic adjustment entry to zero out the non-zero balance of the inactive account. The automatic entry posts to the Opening Balance Equity account, which is the equivalent of posting to previous years. The entry could potentially cause incorrect tax info to be filed.

If you make an account with a balance inactive, QuickBooks creates a journal entry. This moves the remaining balance to another account. Your existing transactions don't disappear and stay on your financial reports. However, if you decide to use the account again, QuickBooks won't move the balance back or change the journal entry.

To ensure this change is right for you, I'd suggest getting in touch with your accountant. If you don't have one, use this link to find a QuickBooks Certified ProAdvisor: https://quickbooks.intuit.com/find-an-accountant/

Here are other things you can do to keep your chart of accounts in order:

• If there are accounts you no longer use, make them inactive
• Add an account to your chart of accounts in QuickBooks Online
• Use account numbers if you have an extensive chart of accounts

I'll be on the lookout for your response. Let me know if you need more help handling your bank accounts. I'm always happy to lend a hand. Wishing you the best of luck!