How to Merge Accounts in Quickbooks Online
Merging accounts is important to declutter the financial statements and offer a clearer look at the business’s financial health. As seen in the snippet of the P&L below, there is a category for Meals & Entertainment and a separate category for Snacks. We don’t need to be so specific to separate snacks into its own category, so let’s merge it with Meals & Entertainment.
On the left side bar, hover over Accounting and click on Chart of Accounts. Then type in Snacks since this is the account we want to merge with Meals & Entertainment. Click on the black down arrow all the way on the right, then select Edit. Now, under name, we will type in the exact name of the account we want to merge it with, which in this case is: Meals & Entertainment. Then, save and close. A message (as seen below) will pop up that says the name is already in use and if you wish to merge the two accounts. Select Yes and that’s it!
Now, if we go to the P&L, we will only see Meals & Entertainment and the total expenses for Meals & Entertainment will be the sum of all transactions that were previously coded under Snacks as well as what was already in the Meals & Entertainment account.