Tag: How can you merge two accounts in Quickbooks?

How to Merge Accounts in QuickBooks?

Quickbooks is an accounting software used widely by small and medium-sized businesses. Sometimes in Quickbooks, the user creates duplicate accounts by mistake, in this situation the merging of accounts is important, and maybe when you have multiple accounts for the same vendor or customer, also in this situation it becomes necessary to merge the duplicate accounts. You can also merge two accounts in Quickbooks desktop. let’s start an informational guide to merge accounts in Quickbooks, soon you will be able to do it. 

Some important things to know before merging accounts in Quickbooks

There are some points that you have to know before you can start to merge accounts in Quickbooks, let’s examine.

  1. Merge accounts are permanent, which means once you merge the accounts you can not reverse the process. So merge the account only when it is mandatory. 
  2. Only two accounts can merge at one time.
  3. The accounts that you wish to merge have to be identical to each other.
  4. Users can also merge two bank accounts but the accounts have to be the same level. If the one account is parental level then the other account must be at the same parental level.
  5. Accounts connected to online banking can not be merged.

Let’s Know How to Merge Duplicate Accounts and Vendors, in QuickBooks Online.

How can you merge two accounts in Quickbooks?

Yes, you can combine two accounts using QuickBooks Online. The procedure of combining accounts in QuickBooks Online involves two steps. Selecting the accounts you wish to combine is a prerequisite. You have to indicate which accounts you want to remove and which accounts you want to keep in the second stage.

Following that action, QuickBooks will merge the information from both accounts and eliminate the redundant one. Despite the ease of this process, it’s crucial to keep in mind that once a merge is complete, it cannot be reversed. As a result, you must take the time to thoroughly evaluate all the data before combining any accounts.

Export the Quickbooks data before merging any account, in case something goes wrong you will have backup data of the account. 

Merge duplicate accounts in Quickbooks online

There are some steps by following them you can easily merge duplicate accounts in Quickbooks online.

  • If you are merging accounts that have reconciliation reports, you must first preserve the reports.
  • You must first navigate to the Settings and then select the Chart of Accounts.
  • Subsequently, locate the account you wish to maintain, select it using the dropdown menu in the Action column, and then select Edit. Additionally, you are creating a subaccount if the Account window is replaced with the New Category window. You must switch to the accountant view if you must create a new parent account.
  • At this stage, you must be aware of the account’s Name, Account Type, and Detail Type. These must match across all the accounts you need to combine.
  • If so, make a note of the parent account to which it is linked and check to see if the Is subaccount option is selected.
  • You must first find your way to the Chart of Accounts.
  • Search for the duplicate account that you do not want to keep after that. Next, select the dropdown menu in the action column, and then click Edit.
  • To ensure that the duplicate account’s information precisely matches the account you want to preserve, you must modify the Name and Detail Type. You must be aware of the following if you must mark an IS subaccount:
  1. If you are merging two parent accounts, you must make sure that you do not have any Is subaccounts.
  2. If you are combining two subaccounts, you must make sure they have the same parent account.
  3. If there is only one subaccount, you must make sure you uncheck the Is subaccount option so it becomes a parent account.
  • Once you have completed all of the aforementioned steps, select the Save option and then click Yes to confirm.

How to merge duplicate vendors in Quickbooks 

  • You must first select the Vendors and navigate to the Get Paid & pay page.
  • The vendor profile you want to preserve needs to then be located and opened. Next, select the Edit menu item.
  • Note the Display Name and the Company Name at this point.
  • After it’s finished, select the Edit option and return to the Vendors page, finding and opening the vendor you don’t need to keep.
  • This is the phase where you have to change the display name to match the vendor you need to merge with.
  • Select Save in the final step and press Yes.
  • Once the accounts are combined, you will only have one. Transactions from the duplicate are moved to the vendor you want to keep in QuickBooks.

Conclusion

This is a guide to merging accounts in Quickbooks, I hope it will help you. For Quickbooks related to any problem or query, you can contact the Quickbooks support team.