cancel
Showing results for 
Search instead for 
Did you mean: 
vaolivas051909
Level 2

Help in fixing mistake in deleting the bank accounts which were connected to reconciled transactions.

Hi,

 

My client deleted in Banking transactions the 2 bank account as per my advise since he told me that he is not using these 2 in his Quickbooks. The 2 bank accounts have balances more than 3digits. The other one shocked my client as the real balance has never gone above $5.00. It was just connected to his Quickbooks. So I advised to delete it.  When I still see the 2 accounts in the chart of accounts, I advise to "Make Inactive". After that, I can no longer see, but the Balance Sheet still shows the 2 bank accounts with "(deleted)" mark beside the account name and there is still the same amount.

 

Can you please enlighten me what to do to correct these mistakes. Highly appreciate your immediate response.

4 Comments 4
Pete_Mc
Community Champion

Help in fixing mistake in deleting the bank accounts which were connected to reconciled transactions.

To make the two bank accounts accessible again, just go to the Chart of Accounts and under Settings (Gear icon) click on Show Inactive.  The bank accounts should appear in the list.

 

On the right of the accounts click on Make Active.

 

Then transfer out any balance in the accounts as you see correct for his business.  Once they have a $0 balance, make them Inactive again.  QBO calls it "Delete" for some strange reason (poor programing), but you will actually be making it Inactive again.

 

vaolivas051909
Level 2

Help in fixing mistake in deleting the bank accounts which were connected to reconciled transactions.

Thanks! I made it Active again but Quickbooks auto-Zero their amounts (Zero Balance). But I can see their balances in the Balance Sheet. How is this happening?

 

Can you please help me continue correcting this?

vaolivas051909
Level 2

Help in fixing mistake in deleting the bank accounts which were connected to reconciled transactions.

When I view the register of the account(which was auto-zeroed by Quickbooks), I saw the transactions n there including the reconciled item when it was made "Inactive". Please see attached screenshot.

 

1. Will I undo the reconciliation? and How to do it?

2. When you say "transfer the amount", is that means I will just debit the correct bank account (S015) and then credit the two bank accounts (not used by my client) with their corresponding balances in the Journal entry?  What date will I use? We need FS for 2018 and I will adjust it dated December 31, 2018 if ever. My problem is, there were transactions entered again this year the same bank account(not used by the buyer). So this means I will make adjustment again before making these two bank accounts "Inactive" again? 

Angelyn_T
QuickBooks Team

Help in fixing mistake in deleting the bank accounts which were connected to reconciled transactions.

Hello there, @vaolivas051909.

 

Allow me to join the thread and help share information about deleting accounts in QuickBooks Online (QBO).

 

When deleting bank accounts in QBO, QuickBooks automatically creates an adjusting transaction to zero out the account. It's a need to activate the accounts and delete the transactions created by QuickBooks.

 

Once done, you may need to transfer the balance to the correct bank and make the accounts inactive again.

 

To learn more, you may check this article: What happens to inactive accounts.

 

Feel free to add a comment below if you have any other banking questions. I'll be always happy to assist you!

Need to get in touch?

Contact us
Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up