Methods to Merge Bank Accounts in QuickBooks Online and Desktop

Based on your requirements, you can merge two bank accounts in QB to sync them into one. Considering these requirements, you can merge your bank accounts in QuickBooks if the items and expenses of both match each other. Therefore, for completing requirements like these, you should know how to merge bank accounts in QuickBooks. The merger between your bank accounts can be performed in QB with the help of the Chart of Accounts feature. This feature can enable the editing of the bank accounts. Once the merger has been completed, you can start using a single account.

How Can You Merge Two Bank Accounts in QuickBooks?

You may want to merge your accounts in QuickBooks when one of them is unable to work. Tap on Lists from the QB menu. Then opt for the Chart of Accounts tab to merge two bank accounts in QuickBooks. Pick the account that you have to merge. Next, tap on the Account button. Further, choose the Edit Account feature and change the Account Type if needed.

• Run “QuickBooks”.
• Select “Lists” from the menu.
• Tap on the “Chart of Accounts” option.
• Choose the account that is to be merged.
• After that, press “Account”.
• Pick the “Edit Account” button.
• In case there is a difference in the account type between the two accounts that are going to be merged, changing the “Account Type” is required.

Important: The accounts that were created automatically, the A/R accounts, and the accounts attached with sub-accounts cannot be replaced while merging. 

Note: Make sure that the account type of both the accounts matches. If they do not match, then you may not be able to merge them.

• The name of your account into which you are merging the other account has to be filled in the search box of “Name”.
• Hit the “Save & Close” tab.
• Click on “Yes” for confirmation. 

How to Merge Bank Accounts in QuickBooks Desktop?

For reasons such as not wanting to use two separate bank accounts in QBDT, merging can be suggested. Merging the bank accounts in QuickBooks Desktop can be performed by editing them. The Lists feature is to be selected for this. Then move to Chart of Accounts and ensure to copy the account name for later use. The particular account that needs to be merged is to be right-clicked. Now, go to the Edit Account option.

Follow the below instructions to understand how to merge bank accounts in QuickBooks Desktop:

• Select “Lists” in “QBDT”.
• Tap on the “Chart of Accounts” option.
• Copy the account name that is to be kept.
• The account that is to be merged needs to be right-clicked.
• Press the “Edit Account” button.
• Now, enter the account’s name that you had copied in the field provided.
• A dialog box will appear on the screen for merging the account.
• Choose the “Yes” tab.

What is the Process to Merge Bank Accounts in QBO?

For accounting purposes, users may merge the bank accounts in QuickBooks Online. You can merge them by utilizing the Edit feature in QBO. Choose the Gear tab and head to the Chart of Accounts menu. Tap on the Edit button in the column of Action to further learn how to merge two bank accounts in QuickBooks Online. The correct name of the account that you want to merge is to be copied while executing the process.

• Tap on the “Gear” sign.
• Select the “Chart of Accounts” tab.
• Move to the column of “Action”.
• Hit “Edit”.
• Copy the accurate name of the account that you want to merge for making the “Detail Type” note.
• Here, push the “Cancel” button.
• You will be navigated back to the “Chart of Accounts” section.
• Head to the other account that is to be merged.
• In the column for “Action”, move to “Edit”.
• Next, the name of your account is to be pasted in the provided field.
• Ensure that the “Detail Type” and the account that you want to merge match.
• In case one of the accounts is a sub-account, you need to uncheck the checkbox for “Is Sub-Account”.

Tip: Ensure to associate the accounts with the matching parent account if both the accounts are sub-account.

• Then choose “Save”.
• Now, opt for “Yes”.

With this, you will have finished the process to merge bank accounts in QuickBooks Online.

What are the Points to Remember Before Merging the Bank Accounts?

Users may need to keep in mind certain points before processing the merge between two bank accounts. As per one of these, it can be mandatory to change the mode of the company file to single-user when you are trying to merge them. 

There are more such points to learn before you merge bank accounts in QuickBooks:

• You should back up your company file before heading to merge the bank accounts.
• The account charges should not be pending.
• Ensure that you have switched off the multi-currency feature.
• In a single time, only two accounts can be merged.
• The process to merge the bank accounts is irreversible, so, perform the method accurately.
• Account types should match before merging them.
• The bank account’s parent and sub-level should also match.

In Essence

Users can merge two bank accounts in QuickBooks for several reasons. With this feature, an increase in convenience can be experienced. Through this blog, you may now be able to perform the process to combine these accounts in QB, QBDT, and QBO. While you do so, ensure that the numerous points and tips shared are well utilized by you.