I work for a property mgmt co. and we're going to be managing a building that already has a bank account in place. How do I add that bank account into a new company file? Will my balance ever match theirs?
Hi there, Beth1107. Thanks for clarifying. When manually adding a pre-existing bank account to a new QuickBooks company file, it’s important to start with the correct opening balance and carefully record past transactions.
In your Chart of Accounts, select New and choose Bank as the account type. Enter the bank account name and the opening balance from your bank statement, then click Save & Close. When the Set up Bank Feed prompt appears, select No to avoid linking it to online banking. After that, manually enter deposits, checks, and payments from your statements to accurately reflect the account activity.
Keep in mind that the opening balance and historical transactions must be entered accurately to ensure your QuickBooks balance matches the bank's records and that reconciliations remain accurate.
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