I am switching bank accounts (closing one, opening another account at a different bank). What do I do to assure that quickbooks is depositing money in new account?

Greetings, @gina82.

To smoothly transition to your new bank account in QuickBooks, first mark your old account as inactive to keep your records organized. Then, set up a new bank register for your new account so you can start tracking transactions right away.

Also, don’t forget to update your QuickBooks Payments deposit settings to direct funds into your new account. And if you’re using direct deposit, make sure to update that information as well. This way, all your payments will land exactly where you want them.

To make your account inactive:

1. Navigate to the Settings and select Chart of Accounts.
2. Locate the specific bank account and select the drop-down icon beside the View Register.
3. Then, click Make Inactive.

To set up a new bank account in the COA:
 

1. Go to the Settings and select Chart of Accounts.
2. Select New Account and enter an Account name.
3. Select an Account type, and then choose the Detail type from the dropdowns.
4. If this account is a subaccount, check Make this a subaccount, then choose the Parent account it should be under.
5. If you choose a Bank, Asset, Credit card, Liabilities, or Equity account, enter Opening Balance, and fill out the starting date in the As of field.
6. (Optional) Add a Description to add extra information about this account.
7. Select Save.

The process of changing the bank deposit account for QuickBooks Payments depends on whether your account is a Standard Deposit or an Instant Deposit. You can refer to this article for instructions on how to update the deposit account: Change the deposit bank account.

Then, to change the bank account for payroll direct deposit:
 

1. Select Settings and then select Payroll Settings.
2. From Bank Accounts, select Edit.
3. Select Update.
4. Select Add new bank account.
5. Search your bank name. You may be asked to enter your online banking user ID and password. Otherwise, select Enter bank info manually. Enter your routing and account number, then select Save.
6. Select Accept and Submit.

For more detailed information on managing your payroll bank account, check this article: Change your payroll bank account.

On top of that, you can consider checking out our QuickBooks Live Expert Assisted team. They can help manage your accounts, transactions, and assist you with reconciliation.

We'll be around to help you if you have any concerns.