In my Chart of Accounts, I noticed that under the Expense section, the previous user used two different accounts for the Phone Expense. Is there a way that I can combine these accounts?
Yes, in QuickBooks this is called Merging Accounts.
In this example, we are going to merge Office Phone expense with Telephone expense.
Basically you are going to Copy the Account Name you want to keep (Telephone) and then replace the Account Name you do not want to keep with it by using the Paste feature.
1. Open up your Chart of Accounts (Ctrl + A or Lists, Chart of Accounts|).
2. Right click on Account Name Telephone.
3. Left click on Edit Account from the shortcut menu.
*Click on Images to View Full Size*
4. At the Edit Account window, highlight the Account Name Telephone.
5. Right click on the name and left click on Copy. Windows has now saved this name in the clipboard.
6. Click the Cancel button to exit this window.
7. The Chart of Accounts window will be displayed again.
8. Right click on the unwanted Account Name (i.e. Phone under Utilities) .
9. Left click on Edit Account.
10. In the Account Name field highlight Phone.
11. Right click on it and click paste.
12. Account name Phone has now been replaced with Telephone.
13. Note Subaccount of is selected. Remove the check mark in the Subaccount box.
14. Click on Save & Close.
15. The following screen will appear.
16. Click the “Yes” button and the two accounts will be merged.
1. If you are merging an account that has been reconciled, it will become unreconciled after merging.
2. You can use the same procedure to merge duplicate Customers, Vendors, Other names or Items.
3. You can’t merge than two accounts at a time.
4. You can only merge accounts that are the same type. For example, you can’t merge an “income’ type account with an “other income” type account. You must make them the same account type first, then you can merge them.
5. You cannot merge accounts with subaccounts.
6. Both accounts must be at the same level.