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kate-herron-apta
Level 1

How do I move my what is in my 1499 account to my checking account?

I am trying to reconcile for the first time in QBO. Thanks!
1 Comment 1
KayePe
QuickBooks Team

How do I move my what is in my 1499 account to my checking account?

Welcome to the Community space, Kate. Let me assist you with your 1499 account and reconcile an account using QuickBooks Online (QBO). 

 

If you want to transfer the balance from your 1499 account to your checking account, you can achieve it by transferring funds. Here's how:

 

  1. Go to +New and choose Transfer in the Other column. 
  2. Select the 1499 account for the Transfer Funds from and the checking account in the Transfer Funds To.
  3. Enter the amount to transfer.
  4. If done, click Save and New.

 

However, if you wish to transfer a transaction from your 1499 account to your checking account, you can merge both accounts. It will update the accounts into one. QuickBooks will move transactions from the duplicate account to the account you want to keep. All the transactions from your 1499 account will be transferred to the checking account along with the pre-existing transactions of the checking account. Follow the steps below to proceed:

 

  1. In Settings, choose Chart of Accounts.
  2. Decide the account you wish to keep. Click the Action dropdown, then select Edit.
  3. Take note of the Account NameType, and Detail Type of the account. Note that it should be the same between the accounts you want to merge. 
  4. Check if the account is a subaccount or a parent account. The names of subaccounts should be in the Name column of the Chart of Accounts list. If it is, note the connected parent account.

 

After that, you can now merge the account.

 

  1. In Chart of Accounts, decide the duplicate you want to keep, then click Dropdown in the Action column, and hit Edit.
  2. Change the Account name and Detail Type and match the account you want to keep. If you wish to make this a subaccount, note that they don't have any sub-accounts, and both have the same parent account. If only one is a subaccount, change the Account Type to match the other parent account so it becomes a parent account.  
  3. Once done, click Save, and then Yes, merge accounts.

 

However, if you mean something else, please let me know. You can add additional information about your concern. 

 

Moreover, note that it's essential to reconcile your accounts to check that they match and avoid issues. To proceed with reconciling, visit these links as a comprehensive guide for assistance: 

 

 

On the other hand, keeping track of business expenses is now easier with QBO, providing a clear overview of your business and profit. To learn more about it, click this article to help you: Enter and manage expenses in QuickBooks Online

 

You can count me in if you need more help regarding your 1499 account and reconciling. I'm always ready to assist. Take care and have a great day. 

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