You can transfer the transactions to the correct bank account. After transferring the transactions to the new account, delete the transactions from the Line of Credit (LOC) created by the owner and then set the account to inactive in QuickBooks Desktop (QBDT), @PatriciaW1. I'd be glad to walk you through the process.
Here's how:
- Sign in to your QuickBooks Desktop Company File.
- Go to the Banking menu and select Transfer Funds.
- Choose the account you want to transfer funds from using the Transfer Funds From drop-down menu.
- Choose the account you want to transfer funds to in the Transfer Funds To drop-down menu.
- Enter the transfer amount and date.
- If needed, add a memo such as Fund Transfer to provide additional context for the transaction.
- Once done, select Save & Close.
The next step is to delete the transactions from the Line of Credit (LOC) account created by the owner and then make the account inactive.
Furthermore, you can reconcile your accounts monthly to ensure they align with your bank and credit card statements.
Keep in touch if you have further concerns about handling accounts in QBDT. I'll be happy to return to this post to address your queries. Stay safe, and have a great day ahead.
