How to Merge Duplicated Accounts in QuickBooks

by Laura Madeira | May 8, 2013 9:00 am

Marking an account inactive is usually the best choice when you have duplicate or extra list entries on your chart of accounts. Making an account inactive removes it from any drop-down list where the item can be selected. However, for reporting periods where the account has a value, any reports generated will include the inactive account balance.

Another method to remove duplicated accounts is to merge the similar accounts. To perform a chart of accounts merge, both accounts must be in the same chart of accounts category; in other words, you cannot merge an Asset with a Liability-type account.

Before merging accounts, perform a backup of your data, just in case the result is not what you expected. When the accounts are merged, all transactions previously assigned to the removed account now appear as if they were always assigned to the remaining account.

To merge two chart of accounts, follow these steps:

1. From the menu bar select Lists, Chart of Accounts, and highlight the account you want to remove with the merge. With the account highlighted, press Ctrl+E on your keyboard to open the Edit Account dialog box.
2. If you are using account numbering, replace the account number with the account number for the account you want to retain. Optionally, you can type the exact spelling of the name of the other account you are merging with this one into the Account Name field. QuickBooks cautions you that the name is already being used and asks whether you want to continue, as pictured here:
   [1]

   QuickBooks offers a word of caution when you are merging two charts of accounts lists.

   If you do not get this message, you didn’t accurately type the name or account number. You need to try again.

3. Click Yes to merge the accounts.

Two words of caution, from Laura Madeira’s QuickBooks 2013 In Depth[2]:

–> This method potentially changes your financials and should be cautiously performed only after you have discussed the effect with the company’s accountant and have made a backup of the data file.

–> Chart of accounts, customers, jobs, vendors, and other names lists can all be merged within their own type or category. Be careful—there is no undo function, making the action irreversible.

 

From Laura Madeira’s QuickBooks 2013 In Depth[2]

Source URL: http://www.quick-training.info/2013/05/08/how-to-merge-duplicated-accounts-in-quickbooks/

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