I closed a bank acct at the end of FY 2018 and opened an acct at a new bank at the beginning of 2019. I put in an opening bal never posted the closing bal. What to I do?

simpplea · ‎January 16, 2020

Anonymous · ‎January 16, 2020

Hi there, simpplea.

We'll need to transfer the ending balance of the old account to the new one. Then, inactivate the old one. We can do this by using the Transfer function. Here's how:

Click on the Plus icon.
Select Transfer between bank accounts.
Select the old bank account.
Enter the amount.
Select the new bank account.
Click on Save and close.

To inactivate the old account:

Selecting Accounting.
Under Chart of Accounts, click on the drop-down arrow for the old account.
Select Make inactive.
Click on Yes.

Don't forget to link the new account to your online banking. Here's how: Connect bank and credit card accounts to QuickBooks Online

We'll gladly help you with any questions. Please go ahead and post them.

Rustler · ‎January 16, 2020

@simpplea

Assuming when you closed the first bank you got the money, and that money is what started the new account

Use the register for the new bank account and delete the open balance entry

then transfer the balance in the old bank to the new bank account

then you can make the old bank account inactive

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I closed a bank acct at the end of FY 2018 and opened an acct at a new bank at the beginning of 2019. I put in an opening bal never posted the closing bal. What to I do?

I closed a bank acct at the end of FY 2018 and opened an acct at a new bank at the beginning of 2019. I put in an opening bal never posted the closing bal. What to I do?

I closed a bank acct at the end of FY 2018 and opened an acct at a new bank at the beginning of 2019. I put in an opening bal never posted the closing bal. What to I do?

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