diff --git a/apps/api/src/app/import/import.service.ts b/apps/api/src/app/import/import.service.ts
index 2e4f1044b..c672f5bbc 100644
--- a/apps/api/src/app/import/import.service.ts
+++ b/apps/api/src/app/import/import.service.ts
@@ -117,7 +117,8 @@ export class ImportService {
   }): Promise<Activity[]> {
     const accountIdMapping = {};
 
-    if (!isDryRun && accountsDto?.length) {
+    //Create new accounts during dryRun so that new account Ids don't get invalidated
+    if (isDryRun && accountsDto?.length) {
       for (let account of accountsDto) {
         //Check if there is any existing account with the same id
         const accountWithSameId = await this.accountService.getAccountById(
@@ -169,7 +170,7 @@ export class ImportService {
         }
       }
 
-      if (!isDryRun) {
+      if (isDryRun) {
         //If a new account is created, then update the accountId in all activities
         if (Object.keys(accountIdMapping).includes(activity.accountId)) {
           activity.accountId = accountIdMapping[activity.accountId];
diff --git a/apps/client/src/app/pages/portfolio/activities/import-activities-dialog/import-activities-dialog.component.ts b/apps/client/src/app/pages/portfolio/activities/import-activities-dialog/import-activities-dialog.component.ts
index 2b6198de1..2c735f9fb 100644
--- a/apps/client/src/app/pages/portfolio/activities/import-activities-dialog/import-activities-dialog.component.ts
+++ b/apps/client/src/app/pages/portfolio/activities/import-activities-dialog/import-activities-dialog.component.ts
@@ -183,7 +183,8 @@ export class ImportActivitiesDialog implements OnDestroy {
               this.accounts = content.accounts;
               const data = await this.importActivitiesService.importJson({
                 activities: content.activities,
-                isDryRun: true
+                isDryRun: true,
+                accounts: this.accounts
               });
               this.activities = data.activities;
             } catch (error) {