QuickBooks bank accounts represent your "real world" checking, savings,
and money market accounts. Add one bank account for every account your
company has at a bank or other financial institution.
Many companies use a QuickBooks bank account to track their petty cash
When you add bank accounts to QuickBooks you are not creating new bank accounts. A QuickBooks account represents your existing bank account(s).
Can I set up more than one bank account to manage with QuickBooks?
How many accounts should I set up now?
You should set up the main accounts you currently use for your business. These are the bank accounts you use to:
cover your main business expenses
deposit payments from customers
pay employee wages and other payroll expenses
It's easy to add additional bank accounts later.
Why do I see bank accounts that I didn't create?
Based on your industry, QuickBooks may automatically add some bank accounts for you. If you decide not to use these bank accounts,
you can remove them after you complete the EasyStep Interview.
What if I opened this bank account after my QuickBooks start date?
QuickBooks will automatically set up the account here with an opening account balance of 0 (zero). When you are done with the EasyStep Interview and begin using QuickBooks,
you'll enter your historical transactions. Once you enter all of your historical transactions, the opening balance will be updated correctly.
How can I set up more bank accounts later?
How can I make sure that my bank balances are up to date?
When you set up the opening balance for your bank account, use the
bank statement with a closing date just previous to your start date. Make sure that
you also enter any checks or deposits that were still outstanding and did not
show on the statement you used.
For example: If your QuickBooks start date is January 1,
2007, locate your December 2006 bank statement. Enter the ending balance from that statement
as your opening bank account balance. Then find any checks or deposits that
were not listed on that statement but occurred before
your start date, and enter them into QuickBooks on your bank account