How do i add or delete "a preferred payment method to the drop-down list?

Thanks for dropping by the Community, @deborah15.

I have some information about deleting a payment method. In QBO, you can only make a payment method inactive. This way, it won't show from the drop-down list. Let me walk you through how.

1. Go to the Gear menu at the top.
2. Select All lists under Lists.
3. Take Payment Methods. Then, locate the payment method you want to delete.
4. Under Action column, click the drop-down arrow beside the Run report link.
5. Pick Make inactive. See the attached image below.

In case you need help with other QBO tasks, click this link to go to our general topic with article.

Keep me posted if you still have questions or concerns. I'm always here to assist you. Take care and have a wonderful day ahead.