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sandheera-midpro
Level 1

I incorrectly doubled my Bank on Quickbooks, I added my Bank Account as "Bank" and as "Cash and Cash Equivalents". How do I delete Cash and Cash Equivalents?

I need to keep Bank, but the duplicates on Cash and Cash Equivalents are already matched and I need to delete them. Can I do a journal entry for this?
1 Comment 1
RCV
QuickBooks Team
QuickBooks Team

I incorrectly doubled my Bank on Quickbooks, I added my Bank Account as "Bank" and as "Cash and Cash Equivalents". How do I delete Cash and Cash Equivalents?

We can inactivate the bank account as a duplicate in QuickBooks Online (QBO), Sandheera.

 

If you've never used an account or its balance is R0, you can easily make it inactive. However, active accounts will take a bit more work. Instead of deleting accounts that are connected to online banking, we recommend disconnecting them to stop QuickBooks from downloading new transactions.

 

If you disconnect an account from online banking, your existing accounting data won't change. When you disconnect, QuickBooks will delete all transactions that still need to be categorised in the For Review tab. You can reconnect it any time to start downloading transactions again. When you're ready to make an account inactive:

 

  1. Go to Settings ⚙ and select Chart of accounts.
  2. Find the account you want to delete.
  3. Click the Action ▼ dropdown and select Make inactive.

 

You can check out this article for more details about making accounts inactive from your chart of accounts: Make an account inactive on your chart of accounts in QuickBooks Online. If you decide to use the account again, QuickBooks won't move the balance back or change the journal entry (so no need to do a journal entry). 

 

I've got articles here about managing your Chart of Accounts that will guide you in your future tasks:

 

 

Feel free to stay connected with me by adding a comment below after performing the steps, as I want to ensure this is resolved for you. Just reply to this post, and I'll get back to you. Take care always.