I’m here to clarify things out about the parent account and sub-accounts, dudleytut.
No, it won't create a problem. It would be best to do that, you can follow the steps below in turning an existing account into sub-account:
- Log in your credentials in QuickBooks Online company.
- Go to Settings ⚙ and select Chart of Accounts.
- Find the account and select the small arrow ▼ in the action column.
- Select the Edit button.
- Select Is sub-account and then enter the parent account.
- Select Save and Close.
Some banks may show the overall bank balance at each sub-account level. This is because the bank provides us with a static balance of the entire account, not the balance of each sub-account.
You can refer to this article for more information: About bank or credit card subaccount setup.
Do you have questions in mind? Let me know right away and I’ll back you up. Take care!
