How do i switch between 2 bank accounts

Hello there, @mary37.

If you're referring to switching bank accounts for Online Banking, we can simply click the bank on the banking page to view its transactions.

However, the option to add another bank account when running payroll or accepting payments through QuickBooks Payments is unavailable in QuickBooks Online (QBO).

In case you need to review your downloaded bank transactions in QBO, we can assign or categorize them. This way, we can make sure all of the transactions are correct.

Just click the Reply button if you need anything else. I'll gladly help. 

I will be closing my current bank account that I have 2 years of transactions uploaded and reconciled in QBO and opening a new one, will this affect my reconciliation?

Hi @BryanVP,

I'll handle this query for you about an online bank account you have in QuickBooks Online (QBO).

Any transactions you added, matched, or have already reconciled are there to stay in the bank's register. Even if you close your bank account and disconnect it from your QBO company, reconciled transactions aren't affected in any way. 

In case you bump into any issues with your online bank, refer to this article: What to do if you get a bank error or can't download transactions in QuickBooks Online. It's a step by step guide on what you can do to resolve online bank problems. 

Don't hesitate to post a reply if you need further assistance with your online bank. I'll be sure to get back to you. 

I want to do a profit and loss report for two different bank accounts How do i switch between the two

Hey there, Cberinger. 

While QuickBooks Online doesn't have an exact way to run Profit and Loss Reports by bank accounts, you can use Location tracking to get the same information. Bank accounts are classified as Balance Sheet accounts. The Profit and Loss report is driven by income and expense accounts, so Balance Sheet accounts don't affect it. With Location tracking enabled you can set up a location for each bank account. Assign each transaction you enter to one of those location/bank accounts. And filter the Profit and Loss report by location to see each bank account's PL. Here's how:

Step 1: Turn on Location tracking:

Before you can set up locations for your bank accounts, you must turn on the Location tracking feature.

Note: The Location tracking feature is available only in QuickBooks Online Plus and Advanced.

To turn on Location tracking:

1. Select Settings ⚙️.
2. Select Account and Settings.
3. Select Advanced.
4. In the Categories section, select Edit ✎ to open the fields.
5. Select the Track Locations checkbox.
6. (Optional) Use the options in the Location label drop-down list to specify a name for the field in which you select a location. If you do not select an option, the name of the field defaults to Location.
7. Select Save, then select Done.

Step 2: Set up locations for bank accounts:

Once Location tracking is turned on, you can assign a location to each of your bank accounts for tracking purposes.

1. Select Settings ⚙️.
2. Under Lists, choose All Lists.
3. On the Lists screen, select Locations.
4. Select New.
5. In the Location Information dialog, enter the bank account name in the Name field.
6. Select Save.

Step 3: Assign transactions to locations:

Now that your banks are set up, you'll see a Location field drop-down list each time you open an Income or Expense transaction. Choose the location you want from the list.
While you can assign most transactions to locations, you can’t for payments. Payments are automatically assigned to the location you entered on the invoice when you created it. You can't specify locations for transfers.

Step 4: Run your Profit and Loss by Location report:

When you have set up your bank accounts as locations, and assigned a bank account to each of your transactions, you can add a Location column to your Profit and Loss report to create a report that lists each bank account separately.

1. Go to Reports.
2. Locate and select the Profit and Loss report.
3. In the open Profit and Loss report, select Customize.
4. In the Customize report panel, select the Rows/Columns item to open the section.
5. From the Columns drop-down list, select Locations. If you applied a different label to the field, select that label.
6. Select Run report.

If you have any other questions, feel free to post them down below. Thank you for your time and I hope you have a nice day.