How do you delete an incorrect product?

Let me show you how to do this, Nick6.

In QuickBooks Online, you can make an item inactive instead of completely deleting it. Simply go to your products and services list and inactivate the item there.

Here's how:

1. Click the Gear icon.
2. Under Lists, select Products and Services.
3. From the list, find the product that you want to delete.
4. Click the drop-down arrow below the ACTION column.
5. Select Make inactive.
6. Click Yes when prompted.

Feel free to ask more questions by leaving a reply. I'll be here to help you more.

does making a product inactive have any effect on historical transactions and work in progress such as current POs, estimates and sales & purchase invoices that used these now inactive products? 

The information stays on the historical transactions when you inactivate a product or service, Blue Panda.

Though, it will show you as "Name of the inactive product or service (deleted)". However, you won't be able finish the process for those transactions that are still pending. You'll have to reactivate the item again, so you can complete the process.

You can learn more about modifying your products and services through this link: Remove or merge a product or service.

I'm also linking an article in case you want to remove accounts you no longer use in QuickBooks Online (QBO).

Leave a comment below if you have further questions.