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mitzysandy-gmail
Level 1

I have connected my bank account to quickbooks, under account type i have only two options, cash and cash equivalents and credit card, but my account is a debit account.

"cash and cash equivalents" and "credit card" are my only two options under account type, but my account is a debit account, how do i proceed?
1 Comment 1
Mich_S
QuickBooks Team

I have connected my bank account to quickbooks, under account type i have only two options, cash and cash equivalents and credit card, but my account is a debit account.

Welcome to the Community, mitzy.

 

In QuickBooks Online, the Cash and Cash Equivalent and Credit Card accounts are generic Detail Type for bank accounts. If you prefer not to use these accounts, you can create a new one instead. I'll show you how:

 

  1. Go to Settings ⚙ and select Chart of Accounts.
  2. Select New to create a new account.
  3. From the Account Type ▼ dropdown, pick an account type.
  4. In the Detail Type ▼ dropdown, choose the detail type that best fits the transactions you want to track. Learn more about detail types.
  5. Give your new account a name. Tip: Use the detail type description to create a name that describes what you're tracking.
  6. Add a description.
  7. If this is a subaccount of an existing account, choose Is sub-account and then add the parent account. Learn more about parent accounts and subaccounts.
  8. Now let's make sure the account in QuickBooks matches your real-life bank or credit card account. Choose when you want to start tracking your finances. In the Balance field, enter the amount in the account, and determine the as of date. Enter today's date if you want to start tracking immediately.
  9. Once done, click on Save and Close.

 

If it's time for you to keep track of your transactions, you can certainly add accounts to allocate them appropriately. While in an open form, select the Category ▼ dropdown and then + Add new.

 

Once you're good, check out this guide to resolve differences in your account balances: Reconcile an account in QuickBooks Online.

 

Let me know if have other questions about banking or QuickBooks. I'll be sure to have your back here in the Community. Take the best care!