Creating a Second Bank Account in QuickBooks

This may seem like a simple thing to do to most QuickBooks users.  But for some reason, I see this over and over again as a question on the QuickBooks Community Forum.

To do this, open QuickBooks.  Click on your home page (if it is not by default on the screen), then click Chart of Accounts (top right side of home page):

Home Page

Chart of Accounts

Next click "Account" and then "New":

New Account Screen

Select Bank and then enter the next screen.  Do not enter a balance in the opening balance box.  Usually, when you start a new bank account, you write a check from the old one (or make a transfer) and open the new bank account this way.  If you use the opening balance box, it will put the funds in opening balance equity account.  You do not want funds there.  See these other posts for how to write a check to start a new bank account or how to transfer from one bank account to another (if done online).

Completed Bank Screen for New Bank Acct.

You have now created a second bank account.  This account could be a checking account, CD, Savings Account, Money Market account or a Barter-type Clearing Bank Account.

The final step is to put this bank account as a default bank account if it is opened to be used for a specific purpose.  Is this the new payroll bank account, new operating account, etc.?  Then go to edit, preferences, checking and make this new account the default account that comes up.

Preferences Screen for Checking

These are all the steps on how to enter a second (third, fourth, etc.) bank account.

Lynda 

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