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 Expense) 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 (Click on the Gear icon – Settings -Chart of Accounts)
*Click on Images to View Full Size*
2. Click on the Account Telephone Expense (this is the account you are keeping) – click on the down arrow to the right of Telephone Expense and click on Edit.
3. Highlight the name Telephone Expense . Right click on Telephone Expense and click on Copy from the shortcut menu.
4. Click on Cancel to exit this window and returns you back to the Chart of Accounts.
5. Select (name of account you are not using) Office Phone – click on the down arrow to the right of Office Phone and click on Edit.
6. Highlight the name Office Phone. Right click on Office Phone and Paste in the name from the shortcut menu (Telephone Expense).
7. Make sure the Detail Type matches the account with which you are merging. For this example the Detail Type needs to match what was chosen for Telephone Expense when it was setup. (Other Miscellaneous Service Cost).
8. Make sure to deselect Subaccount box if there is no subaccount associated with account.
9. Click Save and Close.
9. If you changed the Detail Type you will get the following message. Click on Yes as Detail Type was changed to match Telephone Expense Detail Type.
10. Click Yes to confirm you want to merge the two accounts.