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laguirre-telehis
Level 2

Hi, By mistake, when loading the accounts plan I created another equity account, how do I delete or disable it?

 
5 Comments 5
JamesDuanT
Moderator

Hi, By mistake, when loading the accounts plan I created another equity account, how do I delete or disable it?

I got your back on this, laguirre-telehis.

 

We cannot perfectly remove or delete the created equity account. However, we can make it inactive. Here's how:

  1. Select Accounting on the left menu and go to the Chart of Accounts tab.
  2. Look for the equity account and click the drop-down arrow next to View register.
  3. Select Make inactive (reduces usage).
    You can review this link to see the usage limits: What are usage limits in QuickBooks Online?.
  4. Click Yes to confirm the action.

You might also want to know what you can do on special and default accounts in QuickBooks Online.

 

Feel free to drop by if you need anything else. Have a great day!

laguirre-telehis
Level 2

Hi, By mistake, when loading the accounts plan I created another equity account, how do I delete or disable it?

Thank you very much for the answer but I had already tried that and it doesn't work. The system does not allow me to inactivate an equity account.

I get the following error message: "You cannot delete or edit the 'Retained Earnings' account. It is used to create the balance sheet report". Thanks!

FritzF
Moderator

Hi, By mistake, when loading the accounts plan I created another equity account, how do I delete or disable it?

Thanks for getting back to us, @laguirre-telehis.

 

When creating a QuickBooks Online (QBO) company, the system creates specific accounts by default, including the Retained Earnings (RE). This belongs to accounts that can't be deleted, that's why you're getting this error message. Also, the system only allows one account that has a RE detail type.

 

To isolate this, be sure to select the correct equity account that you've created instead. You can follow the steps shared by my colleague above for further guidance.

 

Just in case, I'll add these articles for future reference:

 

 

Let me know if you have any other concerns or questions by clicking the Reply button below. I'm always here to assist. Take care and enjoy the rest of the day!

laguirre-telehis
Level 2

Hi, By mistake, when loading the accounts plan I created another equity account, how do I delete or disable it?

I thank you all for responding but already tried all the solutions that you propose. The system, I suppose that due to a failure, allows me to create another Equity account and now it does not allow me to delete it, I tried everything and nothing works. I hope someone from Quickbook can give me a solution but I will have an account that I do not use in zero balance forever.

JamesDuanT
Moderator

Hi, By mistake, when loading the accounts plan I created another equity account, how do I delete or disable it?

Thanks for providing the screenshot, laguirre-telehis.

 

Can we have the exact error message when you attempt to delete the account you've mentioned?

 

Screenshot or detailed information about this would be much appreciated. This would help us know what further steps we can do to delete the account.

 

 

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