How do I delete a cc with a balance (the company is no longer paying it). Once deleted, what happens to all exiting transactions? I need this removed from the balance sheet asap and hoping someone can help :)
If your company is no longer in charge of paying for a credit card that has an existing balance on it, QuickBooks Online is here to help make it easy to remove this card moving forward. I know how important it is to make sure your balances are all appearing correctly in your account. I'd be happy to help you get this sorted out.
If there's a balance on the credit card, you'll be able to make the credit card account inactive, rather than deleting it. To do that, right-click on the account, then select Make Account Inactive. The existing transactions can still be viewed.
If you're trying to adjust the balances of your accounts, I recommend speaking to your accountant as to what the best method would be to resolve this for your business.