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Buy nowI have multiple reconciliation discrepancies accounts. (this happened before I joined the company) One is an Expense and one is Other Miscellaneous Expense. IQBO seems to be hard-set to have one of each type. So I simply tried to rename one so at least it wasn't called "Reconciliations Discrepencies-1" I can't seem to rename or merge them (same type) w/o QBO creating another one. Help please.....
Hi there, @TurtleIssues. Let me share some insights about your query.
QuickBooks Online creates particular accounts by default when you set up a company. When specific options in the Settings page are enabled, QBO creates additional special accounts. I'll show you how to merge duplicate accounts in QBO.
When merging duplicate accounts, this moves all the data into the one you want to keep and removes the duplicate. This process keeps your lists clean and makes bookkeeping easier.
Keep in mind merging accounts is permanent. You can't undo this later on.
To begin, these are the steps:
Note: If you see the New category window instead of the Account window, you’re creating a sub-account. If need to create a new parent account, switch to accountant view.
4. Note the Account Type, Name, and Detail Type of the account. These must be the same between the accounts you want to merge.
5. Check if the Is sub-account option is marked. If it is, note the parent account it’s tied to.
Now that you have all the info you need for the account you want to keep, let’s proceed to the duplicate:
4. When you’re ready, select Save and then Yes to confirm.
This merges accounts into a single one. QuickBooks transfers previous transactions from the duplicate account to the one you want to keep.
After this, you would want to Categorize and match online bank transactions in QuickBooks Online.
As always, if you have additional questions about this. Let me know by hitting the REPLY button below. Keep safe and stay hydrated.
Thank you. I've done l those things....multiple times. I'm completely baffled as to why it keeps regenerating a new account "Reconciliation Descrepancies - 1". I'm determined to figure out how to get rid of it once and for all.
Has anyone else had any luck?
Thanks for getting back to us and following the suggested steps above, @TurtleIssues.
Reconcile/Reconciliation Discrepancies account is one of the default accounts in QuickBooks Online (QBO). This is used to report when your transactions in QBO don't match the ones reported on your bank statement.
If QuickBooks keeps on creating this account and merging won't stop the process, reach out to our QuickBooks Support Team. This way, they can check your account and perform a screen-sharing session to address the issue. This will also help us clean your books are remove the duplicates.
Here's how to connect with them:
Please check out our support hours to ensure that we address your concerns on time.
For more info in managing default accounts in COA, check out this article: Which default or special account can be deleted, edited, or merged in QuickBooks Online.
Just tag my name in the comment section if you have any other concerns or questions. I'll get back to you as soon as I can. Stay safe.
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