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Level 2

My local bank merged to a regional bank. should i not have created a separate account? if i did how do i merge them?

 
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Best answer 03-04-2019

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QuickBooks Team

My local bank merged to a regional bank. should i not have created a separate account? if i did how do i merge them?

Thanks for posting in the Community, atomicfurnishing.

 

I can provide clarification on merging accounts in QuickBooks Online.

 

In my opinion, you did the right thing setting them up as separate accounts since they were originally different entities. However, now that they are combined, the steps below will guide you through the process on how to merge them in QuickBooks:

 

How to merge accounts

  1. Select Accounting in the left navigation menu.
  2. Find the Local Bank, then from the View register drop-down menu, choose Edit.
  3. In the Account window, make sure the Account Type, Detail Type, and Name are the same as the Regional Bank.
  4. Click Save and Close.
  5. You'll be asked to confirm if you want to merge the accounts, just select Yes.

 

All of this information and more is also available in our guide on how to merge accounts, customers, and vendors.

 

I believe that these resources will help to get you on the right track for merging the accounts. Should you have further questions about this, or anything else, please let me know. Best regards!

View solution in original post

5 Comments
Highlighted
QuickBooks Team

My local bank merged to a regional bank. should i not have created a separate account? if i did how do i merge them?

Thanks for posting in the Community, atomicfurnishing.

 

I can provide clarification on merging accounts in QuickBooks Online.

 

In my opinion, you did the right thing setting them up as separate accounts since they were originally different entities. However, now that they are combined, the steps below will guide you through the process on how to merge them in QuickBooks:

 

How to merge accounts

  1. Select Accounting in the left navigation menu.
  2. Find the Local Bank, then from the View register drop-down menu, choose Edit.
  3. In the Account window, make sure the Account Type, Detail Type, and Name are the same as the Regional Bank.
  4. Click Save and Close.
  5. You'll be asked to confirm if you want to merge the accounts, just select Yes.

 

All of this information and more is also available in our guide on how to merge accounts, customers, and vendors.

 

I believe that these resources will help to get you on the right track for merging the accounts. Should you have further questions about this, or anything else, please let me know. Best regards!

View solution in original post

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Level 2

My local bank merged to a regional bank. should i not have created a separate account? if i did how do i merge them?

Thank you! This worked.

 

I have another question. I'm trying to reconcile another account and the opening balance is not correct. I don't remember entering this opening balance but when I go to reconcile this account it has a opening balance. If I opened it would the opening balance be zero or the first deposit that was made? Also, how do I edit this opening balance so I can reconcile this account? I've tried going to chart of accounts and looking at the report of all dates but I don't see anywhere to edit the opening balance. Thanks!

Highlighted
QuickBooks Team

My local bank merged to a regional bank. should i not have created a separate account? if i did how do i merge them?

Thanks for your reply, atomicfurnishing.

 

You can edit the opening balance by following these steps:

  1. On the left panel, click Accounting.
  2. Select Chart of Accounts.
  3. Find the account you want to reconcile, and click the View register (or Account history) link.
  4. Look for the the opening balance entry. Tip: If you've got the Date column sorted from newest to oldest, the opening balance entry is likely at the bottom or end of the list.
  5. Click the opening balance entry to expand.
  6. Edit the amount, and click Save.

I've added some screenshots for your reference.

 

You can also check this article for more details: Fix an opening balance to match a bank statement.

 

Please let us know if you have other questions. We're here to help you some more. Thanks.

coa1.JPG coa2.JPG

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Level 2

My local bank merged to a regional bank. should i not have created a separate account? if i did how do i merge them?

Thank you for your response. I've tried this but it doesn't seem to be working. I've tried adding a journal entry with a zero opening balance and that doesn't work. I've also  tried adjusting the description on my first deposit (which is correct in the register) to say the opening balance equity in the memo and yet after I save and go to reconcile the beginning balance is still some random number. I have no idea where this number is coming from b/c this was a new account. I didn't transfer anything to it I just deposited money into it. I'm at a loss ...

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Level 2

My local bank merged to a regional bank. should i not have created a separate account? if i did how do i merge them?

I figured it out. Somehow my opening balance was a random number that was in the middle of my bank register. I edited that number to zero and it fixed the problem. Thanks!

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