QuickBooks has established itself as the top accounting software in the financial world. The simplified yet technically advanced features and tools of the software have attracted millions of entrepreneurs worldwide. The software helps business owners in managing their cash flow transactions. However, at times the users need to merge two accounts. Though, merging accounts in QuickBooks can be a tricky process, especially when the account is reconciled. Merging two accounts is an unchangeable process, so make sure that you have merged both accounts carefully. No wonder how difficult the merging process is; it always proves beneficial as it saves your time and effort.
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If you, too, are looking for the process explaining the merging process, then stick to this blog. Here, we will guide you through the process along with the other necessary details.
What Happens When Two Accounts in QuickBooks Are Merged?
When the merging of accounts in QuickBooks takes place, one account will get deleted from your QuickBooks online account. Henceforth, all the transactions from the deleted account will be transferred to another account which is retained even after merging. Therefore, it is advised to choose the merging accounts in QuickBooks wisely as it is an irreversible process. You can not undo or reverse the process once the merging process gets completed.
No wonder account merging in QuickBooks is a beneficial process. However, there are certain situations when you must perform this action. We have mentioned some of the critical scenarios where QuickBooks account merging is needed.
• You need to combine the data of two different QuickBooks files.
• There are duplicate accounts for the same vendor or customer.
• You need to clean your data, as you have accidentally created a duplicate account.
Things to Be Considered Before merging accounts in QuickBooks
There are certain things that users need to keep in mind before merging the two accounts in the application. Let us know the important things in detail:
• You can merge two bank accounts at a time in QuickBooks. Also, make sure that both accounts have the same type.
• Ensure that both bank accounts use the same currencies, as QuickBooks does not support the merging of two accounts having different currencies.
• Also, make sure that your bank account is listed in the approved list of QuickBooks financial institutions.
• Ensure that the account types are the same either at the parent level or at the sub-level.
• Find and remove duplicate entries.
Steps for merging accounts in QuickBooks Online
In case you have two similar bank accounts and you want to combine them into a single account, then take help from the below-mentioned steps.
• Open the QuickBooks online account by using your admin credentials.
• Next, press the gear icon that is available at the top right.
• From the drop-down list, choose the charts of accounts option.
• Next, find out both the bank accounts that you want to merge.
• Further, click on the action column and then press the edit option available there.
• Note down the detail type and name, and also note down the parent account of the sub-account.
• After noting down the details, tap on the cancel button and return to the charts of accounts.
• Now, change the account name to the account name that you want to merge with.
• Tap on the save button to confirm the changes and close the window.
• Now, again open the charts of accounts and find the account that you want to merge with.
• Press the drop-down arrow button located next to the account and choose the edit option.
• Now, change the detail type as per the account that you want to merge with.
• Moving ahead, press the save button to make the new changes and close the window.
• Again open the charts of accounts and find out the account that you renamed earlier.
• Now, click the drop-down arrow button and choose the merge option.
• Choose the accounts that you want to merge and tap on the next button.
• Make sure that the information mentioned is correct and accurate. If yes, confirm the merging accounts in QuickBooks online by pressing the Merge button.
How to Delete Duplicate Entries in QuickBooks?
When you merge two bank accounts, then, there is a high possibility of having duplicate entries. You need to delete the duplicate entries for an accurate bank transaction, as the duplicate entries might create havoc. The newbies might get trapped in removing the duplicate entries in the QBO process. Deleting the duplicate entries in QBO depends on the tab where duplicate entries appear.
However, our experts have found the easiest way to delete duplicate entries. So, let us know the process:
• The first step is to log into the QBO account by entering your admin credentials.
• After that, tap on the transactions or the banking button available on the left menu.
• Further, choose the bank account which you want to review by clicking on the for review option.
• Select the transactions that are duplicates and press the delete button.
If the duplicate entries are matched, then you need to select the categorized button and pick all the duplicate transactions. Then, you need to delete the duplicate entries by pressing the delete that is available in the exclude button.
What if merging accounts in QuickBooks is not Possible?
You have implemented the above-mentioned steps for executing the process of merging accounts in QuickBooks online. But, for some reason, the application prevents you from merging the two accounts. There could be various reasons for this issue. Our experts have pinpointed some of the important reasons that prevent the merging of two accounts in QB. Let us have a quick look at them separately:
• Either one or both of the accounts are not compatible with QuickBooks.
• The account has too many transactions.
• Maybe your QuickBooks is having some technical issues.
• The balance sheets of the accounts may differ.
You know the reasons which are responsible for this error. Now, it is high time to know the process that rectifies this problem.
• Open the QuickBooks online account and enter the admin credentials to log in.
• After that, navigate to the Lists option and click on it.
• From the drop-down list, select the charts of accounts option.
• Now, select the account which you want to deactivate and right-click on it.
• From the options, choose the edit account option and then select the bank settings tab.
• Here, tap on the option stating deactivate all online services.
• Finally, tap the OK button to save the new changes.
Steps to Merge Customers in QuickBooks Online
If you have duplicate customers, then instead of deleting them, you can merge the customer profiles. However, you need to delete one manually as it ensures the moving of data from one profile to another. The below-mentioned steps will help you in performing the merging of customers in QB.
• Log into the QBO account with the help of your login credentials.
• After that, go to the sales section and select the customer's option from the drop-down list.
• After that, pick the customer names that are duplicates or you do not want to keep.
• Further, you need to click on the edit option.
• Now, in the customer display field, mention the name of the duplicate customers. Make sure that the names match exactly.
• Tap on the Save button.
• A confirmation window will appear asking for the merging. Tap on the Merge button to provide the confirmation.
To Sum Up
We understand that merging accounts in QuickBooks online is a hectic task. Most people get frustrated. Though, it is not even as difficult as considered. We have easily explained the entire process so that anyone can accomplish the task. However, if you still feel the need for an expert, then do not hesitate to get in touch with our experts. All you need is to dial our helpline number or email your problem to us. Leave the rest to us; we will take care of that.
Read also:- https://www.quickbooksupportnet.com/merge-two-accounts-in-quickbooks/
Frequently Asked Questions
Q – Can I merge the accounts that are not having the same parents?
A – NO, you can not merge two accounts that have different parents or sublevels.
Q – Can I merge more than two accounts in QuickBooks at the same time?
A – NO, you can merge only two accounts at the same time. However, if the users want to merge more than two accounts, they need to merge two files first and then merge the accounts with the help of the earlier steps.
Q – Which two accounts can not be merged in QuickBooks online?
A – You can not merge the bank or credit card accounts that are connected to QuickBooks online. Also, a non-zero account that is used in the transaction can not be merged in QBO.
Q -Can I get help from an expert to deal with merging accounts in QuickBooks?
A – Yes, our experts will guide you step by step. You can call or email them; they are there to help you with the most innovative solution at a pocket-friendly price.