Sunsetting one company and combining assists into another company

I've got your back in transferring your assets from one bank account to the other in QuickBooks Online (QBO), @carey4.

When you move assets from one account to another, you'll need to record the transaction as a transfer in QuickBooks. Once both accounts (sunset and open) appear in your Chart of Accounts, you must enter the transfer as one transaction that affects both of them, rather than entering a check in one account and a deposit in the other.

There are three options on how you can record transfer. If you haven’t imported the transaction from your bank yet, the easiest way to record a transfer of funds is to use Transfer in QuickBooks. Here’s how:

1. Go to the + New button.
2. Select Transfer.
3. From the Transfer Funds From drop-down list, select the bank account that the money is coming from (i.e., Sunset account).
4. From the Transfer Funds To drop-down list, select the bank account that the money is going to (i.e., Open account).
5. In the Transfer Amount field, enter the amount being transferred.
6. Edit the Date field.
7. Enter a description of the transfer in the Memo field (optional).
8. Select Save and close or Save and new to complete the transfer. 

If you use physical check or have imported transactions from your banking feed for both accounts that aren't entered as a Transfer in QuickBooks, please refer to this article for the step-by-step guide: Transfer funds between accounts.

Also, I'd recommend reconciling your accounts every month. This way, you can monitor your income and expenses and detect any possible errors accordingly. To further guide you on how to perform the process, you can check out this article: Reconcile an account in QuickBooks Online.

Let me know if you have other banking concerns and questions about managing transactions in QBO. I'm always here to help. Take care, and I wish you continued success, @carey4.