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tia-qbo-get-it-w
Level 1

I have closed one business bank account and replaced it with another. How do I mark the original account as closed in QuickBooks?

 
1 Comment 1
MaryLandT
Moderator

I have closed one business bank account and replaced it with another. How do I mark the original account as closed in QuickBooks?

I'm glad to help close the business bank account in QuickBooks, itia-qbo-get-it-w.

 

All you need to do is disconnect the closed account if it's connected to online banking. That way, QuickBooks will stop downloading transactions.

 

Here's how:

 

  1. Go to Bookkeeping, then select Banking.
  2. Choose the tile for the bank account.
  3. Click the pencil ✎ icon, then select Edit account info.
  4. Mark the Disconnect this account on save box. 
  5. If QuickBooks is downloading new transactions, you won't see this option. Wait a few minutes for the update to finish and try again.
  6. Click Save and Close.

 

Before you disconnect the bank account, make sure to categorise transactions that are still sitting on the For review tab. Otherwise, QuickBooks will delete them.

 

After disconnecting the account, you can make it inactive if you no longer use the bank in QuickBooks. Here's what you need to know before proceeding: Learn how to make accounts inactive from your Chart of Accounts.

 

For the new account, you can set it up for online banking and start downloading transactions.

 

Get back to me by commenting below if you have follow-up questions. I'm always around to answer.