The chart of accounts is the account that consists of all the company’s accounts and their balances. Moreover, QuickBooks utilizes this account so that the users can keep track of the funds, debts, and money going or coming. But at times, users might have to delete charts of accounts in QuickBooks Online when they don’t want to use the account further.
Furthermore, you can delete the account if you have made any mistake while setting up the account, and you have to start from scratch. Therefore, to get the detailed procedure for deleting a chart of accounts in QBO, go through this entire post.
“Wondering how to delete charts of accounts in QuickBooks Online? Dial @+1-855-603-0490 to connect with our experts and clarify all your doubts right away.“
Table of Contents
Essential Points To be Noted Before Deleting QuickBooks Charts of Accounts
QuickBooks only utilizes some of the accounts as default for the features. These accounts consist of undeposited funds and tax accounts. However, the users cannot delete these accounts. Moreover, there are some other important points that you must know before deleting the charts of Accounts in QuickBooks.
- If the recurring transaction is associated with the account, you have to unlink it from your account.
- It has been advised that accounts with sub-accounts should be transferred to another account. This is necessary because the accounts having sub-accounts cannot be removed.
- For instance, if you want to delete the income account having pending payments. In that scenario, you have to send an invoice to your customers for the billable expenses, charges or time. You can only delete the QuickBooks charts of accounts after this only.
- In case the services and products use the account, you need to modify the account with which it is linked. Apart from this, you can also make the services and products inactive.
Also Read – How to Fix QuickBooks Error PS077
The consequence of Deleting the Charts of Accounts from QBO
If you want to delete the charts of accounts from the QBO account, you have to remove all the accounts one after the other. With this, the accounts will be removed successfully, and it won’t contain any crucial information related to your company. It reflects that now you can obtain all the information regarding any of the earlier accounts in the QuickBooks account.
After this, you can move ahead to deleting the charts of accounts in QuickBooks Online.
Different Ways to Delete Chart of Accounts in QuickBooks Online
For instance, if you don’t wish to utilize any particular account longer, you can delete the chart of accounts. The users can remove their accounts using different ways, which are as follows:
Way 1: Delete the Charts of Accounts Via the Charts of Accounts Menu
If you don’t have any clue on how to remove the accounts using the charts of the accounts menu, don’t panic. Instead, read the points listed below to do the same.
- In the first step, hit the Gear icon present at the top of the page.
- Afterwards, you must select the Charts of Accounts option. You will get this option beneath the “Your Company” section.
- Now, you have to pick the account you wish to remove from the available options.
- Subsequently, head towards the Action column and tap on the Delete button by clicking on the drop-down menu.
- End the process by clicking on the Yes option to consent to the account’s deletion.
Once you give the confirmation, your account will be deleted successfully. However, you can get deleted accounts from the COA page. Thus, you can filter the accounts from there also if you have deleted the account by mistake.
“Note: You must remember that deleting the account is irreversible. So, you have to think twice before deleting any charts of accounts in QuickBooks.“
Way 2: Deletion of the Charts of Accounts By Making Them Inactive
In some instances, you might not be able to get the Delete option to remove the accounts. Therefore, in that scenario, you have to make them inactive, representing that you are deleting the accounts from your records.
When you make the accounts inactive, it eventually generates the QuickBooks Journal Entry. In that journal entry, you will see that the remaining balance will be transferred automatically to another account. Further, go through the following points to make the account inactive. Check them out.
- In the beginning, move to the Settings menu, followed by the “Charts of Accounts”.
- Now, you must pick the account you wish to remove from the Charts of Accounts of QuickBooks Online.
- After this, tap on the Action drop-down menu list to get the Make Inactive option and click on it.
Once the account is entirely removed, you will get the inactive account with the transactions while running the reports. Moreover, it also provides you with an option using which you can modify the reports to hide the inactive account. For that, you can implement the following steps.
- Initially, move to the Accounting menu and hover your cursor over the Gear icon. You will get this icon from the top of the Action column.
- After that, mark the checkbox next to the “Include Inactive” box.
Way 3: Batch Delete Charts of Accounts
Sometimes, the users want to remove all their accounts at once in the QBO application, and this becomes possible only using the upgraded features of QuickBooks. For that, pursue the following steps closely:
- Begin the process by clicking on the Accounting menu.
- Following this, opt for the Charts of Accounts option and mark the check box to pick all the accounts.
- After choosing all the accounts, you wish to remove, hit the option of “Batch Actions”.
- In the end, click on the Delete button with the help of the drop-down menu.
In a nutshell!!
QuickBooks users need to delete charts of accounts in QuickBooks Online when they don’t wish to use it any longer. Through this post, we hope that you have a clear vision of how to delete charts of accounts in QuickBooks Online. If you are encountering any issues, you can consult with our professionals. To reach our QuickBooks experts, you can use email or live chat. Once the query reaches our experts, they will guide you in the best possible manner as soon as possible.