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Import creates a new bank account instead of importing to the existing bank account

After downloading the IIF file and importing it into QuickBooks, instead of importing the transactions into the current account it creates a brand new bank account.

Most Financial Institutions (FI) offer downloads either by Direct Connect (download directly into QuickBooks) or by Web Connect (download and import QBO files). Intuit suggests using one of these methods instead of using IIF files. Please be aware that Intuit does not provide live phone support for IIF issues.

Check Online Banking 101 to get started with the online banking feature of QuickBooks

How to fix it


  • Importing .IIF files and merging of accounts are IRREVERSIBLE. Make sure to create a backup of your company file before you follow any of the steps described bellow.
  • Merging accounts will undo all reconciliations for both of the accounts.

Import the IIF file and merge the new bank account into the existing bank account.

  1. From the bank's website, select the option and save it to the file to the desktop.
  2. Import the IIF file;  there will now be a new bank account created by the import in the Chart of Accounts.
  3. From the List menu, choose Chart of Accounts.
  4. Merge the new bank account into the old bank account.
  5. The imported transactions will now appear in the existing bank account.
KB ID# SLN41999
10/22/2016 2:29:59 PM
QYPPRDQBKSWS07 9138 Pro 2017 7e1a00