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Hello, @adam55.
When you merge accounts in QuickBooks, it is combined into a single account. The balance of the two accounts will be added. This may increase or decrease the balance of the principal account. I've attached a screenshot for your visual references.
Just a heads-up, merging accounts is not a reversible process. Also, it cannot be undone.
I'd recommend, consulting with an accountant so you'd be guided accurately with the merging process.
Get back to us if you have other questions about managing your accounts in QuickBooks. I'm always here to help.
The bank balance will change once you create new accounts and transfer transactions, Adam55.
I will share the reference about the bank or credit card subaccount setup for more information.
With regards to reconciling, let's just ensure the transactions are added to the correct account or sub-account and use the bank statement as the source of truth. Check this reference on how to reconcile an account for more information.
If there's something else that we can do for you, please let us know.
Thanks Kristine for information.
I guess I am not following the reasoning why it is happening - so I have Bank XXX340 as main account then I created three sub accounts of this called Income, Payables and Operations.
I then created 4 sub accounts under Operations called Rent, Capital expenditure, tax, payroll.
I then transferred money to the respective sub accounts and the balance for main account Bank XXX340 stayed same at top as it adds up all sub accounts and gives a total which is great.
I then decided I did not need the Operations sub account anymore and I would jut move the Rent, Capital expenditure, tax, payroll straight under Bank XXX340.
So I clicked each of the Rent, Capital expenditure, tax, payroll one by one and changeded its parent account from Operations to Bank XXX340. When I did this the balance of Bank XXX340 increased.
Just trying to understand the rationale as to why this would happen?
Hello, @adam55.
When you merge accounts in QuickBooks, it is combined into a single account. The balance of the two accounts will be added. This may increase or decrease the balance of the principal account. I've attached a screenshot for your visual references.
Just a heads-up, merging accounts is not a reversible process. Also, it cannot be undone.
I'd recommend, consulting with an accountant so you'd be guided accurately with the merging process.
Get back to us if you have other questions about managing your accounts in QuickBooks. I'm always here to help.
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