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trafenia-flynnsa
Level 1

When I run my balance sheet, there is an extra Quickbooks and Cash Account. This account is skewing our numbers. Any way to fix this?

We do have the ability to pay online for our customers and I believe this account must be tied to this merchant service. Can this account be deleted?
Solved
Best answer February 21, 2021

Best Answers
IamjuViel
QuickBooks Team

When I run my balance sheet, there is an extra Quickbooks and Cash Account. This account is skewing our numbers. Any way to fix this?

Hello there, @trafenia-flynnsa.

 

Yes, you're correct, the accounts are related to your Merchant Services account. Let me share some information on how you can manage these accounts. 

 

Currently, deleting it is not available. However, you can edit it and change its name. Just make sure you have transferred the money out from the created envelope. Here's how:

  1. Go to the Cash Flow menu.
  2. Choose the Envelopes section.
  3. Select View next to the envelope you want to take the money out of.
  4. In the Current balance section, select Transfer money.
  5. Select Transfer out.
  6. In the From field, make sure you selected the correct envelope.
  7. In the To field, select your QuickBooks Cash account. You can also select one of your connected bank accounts, but the transfer will take a little longer.
  8. Enter the amount you want to take out of your envelope.
  9. Click Next, then select Continue when the transfer request finishes.

You can learn more details about taking money out of an envelope in this article.

 

On the other hand, should you wish to close your QuickBooks Cash account, you'd want to make sure that it has a $0 balance. Once the balance is $0, I'd recommend contacting our Payments Support team. They have the tools to securely access your account and further assist you with managing your envelopes. Here's how to contact us:

  1. Visit: https://community.intuit.com/browse/payments-contact-us.
  2. Choose the specific Merchants Service product you're using.

Lastly, I'm adding these articles as additional reference about the accounts in QuickBooks Online, read through these articles:

Keep me posted if you have other questions about managing your QuickBooks Cash Account. I'm just a few clicks away.

View solution in original post

1 Comment
IamjuViel
QuickBooks Team

When I run my balance sheet, there is an extra Quickbooks and Cash Account. This account is skewing our numbers. Any way to fix this?

Hello there, @trafenia-flynnsa.

 

Yes, you're correct, the accounts are related to your Merchant Services account. Let me share some information on how you can manage these accounts. 

 

Currently, deleting it is not available. However, you can edit it and change its name. Just make sure you have transferred the money out from the created envelope. Here's how:

  1. Go to the Cash Flow menu.
  2. Choose the Envelopes section.
  3. Select View next to the envelope you want to take the money out of.
  4. In the Current balance section, select Transfer money.
  5. Select Transfer out.
  6. In the From field, make sure you selected the correct envelope.
  7. In the To field, select your QuickBooks Cash account. You can also select one of your connected bank accounts, but the transfer will take a little longer.
  8. Enter the amount you want to take out of your envelope.
  9. Click Next, then select Continue when the transfer request finishes.

You can learn more details about taking money out of an envelope in this article.

 

On the other hand, should you wish to close your QuickBooks Cash account, you'd want to make sure that it has a $0 balance. Once the balance is $0, I'd recommend contacting our Payments Support team. They have the tools to securely access your account and further assist you with managing your envelopes. Here's how to contact us:

  1. Visit: https://community.intuit.com/browse/payments-contact-us.
  2. Choose the specific Merchants Service product you're using.

Lastly, I'm adding these articles as additional reference about the accounts in QuickBooks Online, read through these articles:

Keep me posted if you have other questions about managing your QuickBooks Cash Account. I'm just a few clicks away.

View solution in original post

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