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BeerOutside
Level 2

My bank was bought by another and I'm having problems merging the accounts

One of my banks was bought by another mid year and merged. I no longer have access to the online bank of the previous bank (MV) but the transactions from prior to the merge are already in QBO along with some from after. I added the new bank (MT) account to QBO and have some of the transactions from prior to the merge in QBO. I tried to merge the accounts according to the instructions Here but I'm getting the error message "You can't merge two accounts that are both set up for Online Banking or Web Connect." 1) Why am I getting this error and how do I rectify and merge the accounts? Is there a setting I'm missing? 2) Can I ignore transactions after the merge date from the MV account and prior to the merge in the MT account? Then using the end balance in MB as the opening balance in MT?

 

Thank you

3 Comments 3
Mark_R
QuickBooks Team

My bank was bought by another and I'm having problems merging the accounts

Hello there, @BeerOutside.

 

I can share some information about merging accounts in QuickBooks Online (QBO).

 

QuickBooks allows you to merge two accounts. However, there are some accounts that can't be merged, like bank accounts connected to online banking. Thus, it's the possible reason why you're getting the error.

 

You can disconnect the other account from online banking to merge the accounts. Here's how:

 

  1. Click Banking from the left menu.
  2. Choose the bank account you want to disconnect.
  3. Select the pencil icon and click Edit account info.
  4. Click the Disconnect this account on save field.
  5. Select Save and Close.

 

To learn more about merging accounts, you can read through this article for more guidance: Merge duplicate accounts, customers, and vendors in QuickBooks Online.

 

You may also want to learn how online banking works in QBO. You can check out this article for more details: How secure is Online Banking through QuickBooks?

 

Come back to this post if you need clarification about merging accounts in QBO. I'll be standing by for your response. 

BeerOutside
Level 2

My bank was bought by another and I'm having problems merging the accounts

Done, but now i don't have reconcilation reports from the previous account. Is there a way to get these back?  Or do I have to go back through the last 6 years and re reconcile each transaction? The transactions are marked R but there is not report and when I reconcile the next month of transactions it has a giant difference. 

DivinaMercy_N
Moderator

My bank was bought by another and I'm having problems merging the accounts

Hello there, @BeerOutside. I want to help you get the reconciliation reports in QuickBooks Online (QBO).

 

In QBO, a reconciliation report will be removed for the following reasons:

 

  • An Accountant undo the reconciliation by using the Undo Reconcile tool. This changes the reconciliation status of the transactions within the reconciled period and removes the connected reconciliation report.
  • The reconciled account is merged with another, which removes the reconciliation report without changing the reconciliation status of the transactions within the reconciliation period.

 

Might be that the missing reconciliation reports are a result of merging the accounts in QBO. Although the reports are removed, those transactions remain in the merged account and stay reconciled. For more information, check out this link: How to view details for missing reconciliation reports or reconciled transactions.

 

Since those transactions are marked as reconciled and the reports are missing, I highly suggest reaching out to your accountant for additional guidance in handling them. They can provide advice and additional steps to resolve this and avoid messing up your books as it involves previous years of entries. If you haven't yet, you can invite them into your account so they can further review and check your transactions that need to be fixed.

 

Then, to resolve the difference when starting a new reconciliation, let's first review the discrepancy report so you'll know how to make changes. Here's how:

 

  1. On the Reconciliation page, select the We can help you fix it link to open the discrepancy report. 
  2. Next, review the report and use it to decide if and how to make changes.
  3. Before editing anything, talk with whoever made the changes (they may be intentional).

 

Once ready, proceed to Step 4 of this article to fix the difference: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

Once everything is fine, you can now begin reconciling your account for the new month. You can read through this article for detailed instructions: Learn the reconcile workflow in QuickBooks.

 

I'm just around the corner to provide additional help if you have any other concerns about getting your reconciliation reports in QBO. Have a good one and stay safe. 

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