QuickBooks is an accounting software which is used by businesses of all classes globally. In QuickBooks, once the accounts are merged, there is no way to discard the applied changes, so please do not forget that merging accounts is permanent. To put it simply, you need to be certain. The accounts merging process works best to cater to the unique needs of the organization. However, only two accounts can be merged simultaneously, and for that accounts should be identical to each other. Know how to Merge Duplicate Accounts, Customers, and Vendors in QuickBooks Online .
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In most of the cases, you can modify the account type to match the new account. The accounts you are moving should also belong to the same parent or sublevel. For example, if one account is of a parent and the other account is a subaccount, you cannot, or you are not able to merge these accounts till the time you change their place to match. In this module we will provide all the related information important for accounts merger. So, read the article till the end.
Users can merge two bank accounts without any hassle in QuickBooks, however, kindly ensure that both of the accounts are the same type of accounts. Furthermore, both the accounts should be on the same sublevel or parent level.
We can understand it with the help of a quick example like if there is a parent account and another one is a subaccount or sublevel then you cannot merge them together as the details will not be similar/mismatched. If you are seeking assistance to learn how to merge two bank accounts in QuickBooks, our team of experts will be happy to assist you. By merging the two accounts, you can move all the financial reports, accounting information, credits, and accounting entries automatically to a unified account.
How to Merge Duplicate Accounts in QuickBooks Online?
As mentioned above, that merging accounts is permanent and there is no such way to undo option.. QuickBooks uses some accounts as the default for certain functions. These, like accounts connected to online banking, cannot be merged or deleted.
- You are required to save the reports first if you are merging accounts which has the reconciliation reports.
- Firstly you are required to navigate to the Settings⚙ and after that choose the Chart of Accounts.
- After that you need to search the account which you want to keep and now choose the dropdown▼ in the Action column and then Edit. Also, you need to know that if you see the New Category window instead of the Account window, you are creating a subaccount. If you are required to create a new parent account, then you need to move to the accountant view.
- Now, at this point you are required to know that the Account Type, Name, and Detail Type of the account. These must be the same between the accounts you are required to merge.
- If it is, note the parent account it is tied to and verify if the Is subaccount option is marked.
Once you get all the information about the account that are required to keep, you need to handle the duplicate. Here are few steps given below:
- Firstly, you are required to navigate to the Chart of Accounts.
- After that, search the duplicate account which you do not wish to keep. After that, in the action column choose the dropdown ▼ and then Edit.
- You are required to change the Name and Detail Type, so the duplicate accounts information matches the account you wish to keep exactly. You need to know that if you need to mark Is subaccount:
- You are required to ensure that you don’t have any Is subaccount if you’re merging two parent accounts.
- You are required to ensure that they both have the same parent account if you’re merging two subaccounts.
- You are required to ensure that you need to uncheck the Is subaccount option, so it becomes a parent account if only one is a subaccount.
- Select the Save option and after that click on Yes to confirm once you are done with the all above-mentioned steps.
After the accounts are merged, so you end up with one. QuickBooks moves past entries from the duplicate to the account you wish to keep with you.
What is the Procedure to Merge the Duplicate Customers?
For merging customer profiles, you are advised to delete one account manually. This will help you to transfer the data of that one account to the customer profile you want to hold.
How to Merge Duplicate Vendors in QuickBooks Online?
Once the accounts are merged there is no way to make the change discard so always remember that merging accounts is permanent.
- Firstly, you need to navigate to the Get paid & pay and choose the Vendors.
- After that, you need to find and open the vendor profile you wish to keep. After that, choose the Edit option.
- Now, make the note of the Company Name and the Display Name.
- Once it’s done, now it’s time to go back to the Vendors tab and find and open the vendor you do not need to keep and after that choose the Edit option.
- At this step, you are required to modify the display name to make it same to the vendor you need to merge with.
- Now, in the last step, choose Save, then click on Yes.
- After the accounts are merged, so you end up with one. QuickBooks moves past transactions from the duplicate to the vendor you wish to keep.
To merge the accounts is the much faster solution to get the issue resolved.
QuickBooks Action to Merge Accounts:
- Firstly, navigate to the Chart of Accounts and click right on the account you are required to keep and after that click on the Edit option.
- Now, you need to Copy the Name of the account you need to keep.
- After that, move back to the chart of account and right-click on the account you wish to Merge with the Account you are keeping.
- In the next step, you need to Paste the Name of the account you are keeping over the name of the account you wish to get rid of and now click on Save and Close.
- There will be a message will display in the QuickBooks: “This name is already being used“. Would you like to merge them?
- Once you are Done with the all above steps you need to hit the Yes options and the accounts will be merged.
Here are few critical points which you are required to Consider Before Merging Duplicate Accounts in QuickBooks:
There are a few Account Types which cannot be changed, or you cannot merge them with other accounts. This happens due to various accounts are required by the system, and you cannot remove or merge them. However, if you are required to merge such an account, you might need to find the error for that particular account because it may be reserved by online banking features.
- Uncategorized Income
- Default Service Tax accounts
- Default Service Income account
- TDS Payable
- Default PAYG/PAYE accounts
- Retained Earnings
- Undeposited Funds
- TDS Receivable
- Opening Balance Equity
- Uncategorized Expense
These are the accounts which are required by the system or online banking features.
QuickBooks gives you the facility to merge accounts so that it becomes easy for you to see the details in one account. With the help of this article, we hope you understood how you can merge two bank accounts in QuickBooks. Suppliers, and others in QuickBooks. If you still have any query or issue, please do not hesitate to connect with our Dancing Numbers experts via LIVE CHAT.
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