what is the affect of using one chart of accounts for mutiple bank accounts

Good day, fingrl2.

Posting an expense or using the same account for the three different bank accounts will not affect the Profit and Loss report. This will instead affect and will show up in the Balance Sheet report. 

Also, you'll have to create a separate account for the three bank accounts. This is any report and reconciliation balance discrepancies.

You'll also want to customize your reports in QuickBooks Desktop. This way, you can pull up the desired details you wish.

Moreover, you can read this awesome help article if case you have other QuickBooks concerns in the future, such as setting up your online banking, managing employees and payroll taxes, exporting and importing data, etc. This way, you'll have better options on how to effectively and efficiently run your business.

Fill me in if you have more questions by leaving a comment below. Take care and have a good one!

Hi ReyJohn_D,

thanks for the response however, can you be more specific about how it will affect the balance sheet report.  Also, not sure what you meant by the statement below....this is any report and reconciliation balance discrepancies.
thanks fingrl2

Hello @fingrl2,

You can open the transaction detail in a Profit and Loss report so you can review an expense associated with all your bank account. You'll want to review your expense transactions in a Balance Sheet report since it'll show you the detailed transaction associated with your bank accounts.

To add, I'd recommend contacting your accountant for additional assistance about how to manage all your bank accounts in a single chart of account.

Lastly, here's a few articles you can read for ideas in managing your reports and transactions: Reports and Accounting for QuickBooks Desktop.

If there's anything else that I can help you with, please let me know in the comments below. I'll be happy to lend a hand.