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userhgalyon
Level 1

Combine Cash Accounts

 

I am new to Quickbooks Online this year.  I created a balance sheet (bs) account called Regions Bank and enter the beginning bank balance.  When I did the first bank downloaded, I must have used a different bs account.  Now I have to add the 2 cash account balances to agree to bank balance.   Can I merge the 2 accounts or make a journal entry to debit bank connect account and credit the Regions Bank account? Will this affect my equity account?

 

Thank you.  

1 Comment
JamesDuanT
Moderator

Combine Cash Accounts

Let's correct the set up so you can have an accurate data on your register, userhgalyon.

 

Yes, you can merge two accounts with the same Account Type and Detail Type. With that said, let's edit the account that is not connected to the Banking page.

  1. Select Accounting on the left menu and go to the Chart of Accounts tab.
  2. Take note the name of the account connected to the Banking page.
  3. Look for the account you want to merge with one in the Banking page.
  4. Click the drop-down arrow next to View register.
  5. Select Edit and update the Name.
    Make sure it is the same as the one connected in the Banking page.
  6. Click Save and Close.

You can also use this link for reference: Merge duplicate accounts, customers, and vendors in QuickBooks Online.

 

It will not affect your equity account since you're only moving the balances and the transactions to the correct account at once.

 

Feel free to get back to us if you have additional queries when merging the accounts. Have a great day!

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