I have more than 1 account showing on quickbooks online, when we only actually have 1 account. We have the business debit card that is our reconciled account, but we also have "bank" which is showing all our PAYE transactions, another business debit , and about 3 others. There all transactions from our 1 bank account, but showing in other banks? I don't want to remove the other banks as they are actual transations I just need them all top be linked to the one account?
This is only the first thing in a list of faults our accountant has given us!!
Hello there, @hannah85.
You got me here to share some clarifications about the bank accounts that are showing up on your end and on how to deal with this scenario.
Having more than one bank account to show in QuickBooks Online happens when you have a sub-account associated with the parent account. To get this issue sorted out, I recommend checking the set up of your main account that's connected with online banking to verify the accounts that are underneath.
You can use this article as your guide on this process: About bank or credit card subaccount setup.
Once verified, you only need to reconcile the parent account since transactions from the sub-accounts roll up to it. This is because statements are only available on parent accounts.
Please know that if you're using Sublevels and you've utilized the Primary account to reconcile, don't create any entries here. This account's register serves as the shelter of all activities.
To sum it up, you'll have to reconcile the Parent level and split the payment to the Sub-categories. This way, each sub-balance receives its payment amount that needs to be applied there.
You may use these links attached as your guide in reconciling and entering split transactions into QuickBooks Online:
I got you covered if you have any other concerns, Hannah. Just leave a reply below and we'll take it from there. Have a lovely day!
Thank you so much for your reply. We did reconcile the account, and we didn't add any sub accounts, like one of the accounts named 'bank' is just showing paymentsmade to pay staff that we run through payroll on quickbooks?
Another problem I was hoping you could help me with, in our expenses we have sales going through there, throwing out our p and l, how do I change these and move the transactions from expenses to sales?
it also seems that our parent account that is reconciled is saved as a credit card account, which it isn't, how can I change this to a current account?
Hello again, hannah85. Thanks for keeping us updated and providing additional information.
As mentioned by my colleague @BettyJaneB, more bank accounts will show if there are sub-accounts associated with the parent account. To isolate the issue, I recommend following her suggestion which is to check the setup of the main account that's connected with online banking to verify the accounts that are underneath.
Moreover, please know that QuickBooks Online (QBO) is a read only-app. It will bring in transactions based on the data posted into your bank. To resolve the issue, you can exclude the expenses showing as sales on the For Review tab and manually enter the transactions.
To exclude, here's how:
Let me know if you have any other questions. I'm more than happy to help. Have a great day!
Thank you for your response.
My business partner set up the account linking, when I looked at the account its saying credit card account, is there a way I can change it to bank account? if I have to disconnect and re connect it, will It saved the transactions uploaded already as we have attached files to all of these?
Yes, you can change the existing account type of your credit card account. I can guide you how to do it.
On the other hand, make sure to categorize all of your downloaded bank transactions listed in the For Review before you disconnect your account from QuickBooks. By doing so, you'd avoid losing unreviewed transactions.
You can check these article for more insights about managing your downloaded bank transactions:
You can always swing by here if you have other questions about managing your connected bank account. I'm always here to help.
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