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Old 06-01-2010, 04:23 PM
jegill jegill is offline
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Join Date: Jun 2010
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reconciling 2 QB accounts with one bank account

I use Quickbooks Pro 2008. Our small business has one checking account at our bank. In order to put money aside (at least on paper) for specific future expenses, I often transfer money out of the main account in quickbooks and into another Quickbooks account. Again, this is just to set it aside so that it will not be reflected in the balance of the main account. The problem is that when I want to reconcile the accounts with the bank statement, they do not balance because I am using two Quickbooks accounts to reflect what is in one bank account. Is there any way to join the Quickbooks accounts for reconciling with the bank, or maybe another solution for what I am trying to do. I am new to Quickbooks, as you can probably tell. Thank you for your help.
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Old 06-01-2010, 11:15 PM
qbqcca qbqcca is offline
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Join Date: Apr 2010
Location: Montreal, Canada
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So you have
1) Main Bank Account
2) "Savings account" (not a real account)

I would open a "new Bank Account" Named "Cash in Bank"

Once you have opened the account "Cash in Bank" then you can go into your Chart of Accounts and Edit your Main Bank Account and make it a sub account of Cash in Bank, do the same thing for your savings account.

Your Chart of Accounts should look like this (with or without the Acct No.'s)
1100 Cash in Bank
......1101 Main Bank Account
......1102 Savings Account

Then when you do your Bank Reconciliation you do it on the Parent Account 1100 Cash in Bank, as it will included your two "Bank Accounts"

Hope this helps
Bookkeepers are well balanced!
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Old 06-02-2010, 10:09 AM
jegill jegill is offline
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Join Date: Jun 2010
Posts: 4
Thank you Warren, this sounds like a great solution, I think I even understand what you are saying. I will give it a try.
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