Previous years Accounts Receivable

Hi there, SMT22.

I'll share with you the steps on how you can delete accounts in your Chart of Accounts. Here's how:

1. Open your Chart of Accounts.
2. Look for the account that you want to remove. 
3. Click the drop-down list under the Action column and select Make inactive. 
4. Click Yes to confirm that you want to make it inactive.

Since the account has an existing balance, QuickBooks will create a journal entry to zero it out. Let me share this article for more details: Delete An Account On Your Chart Of Accounts In QuickBooks Online. 

Aside from that, I would also recommend reaching to an accountant for additional advice on this matter. 

The Community is always here if you need anything else. 

Thank you for your quick reply! I'm still working on that part but I have another question. My accountant wants me to change the name of an account that is currently 'Due to Shareholders' to 'Due from Shareholders'. My concern is that this account is as already reconciled and I don't want to mess everything up! Thank you again!!! 

Let me continue the help, SMT22.

Changing an account name from one of your accounts in QuickBooks Online (QBO) will affect your previously reconciled transaction.

Here's how to accomplish that:

1. In the left pane, click Accounting, then Chart of Accounts. 
2. Select Edit under drop-down arrow next to View register.
   
3. Edit the Account Name. 
4. Click Save and Close.
   

Find out more about managing Chart of Accounts by visiting these articles: 

• Edit Your Chart of Accounts.

• How to manage default and special accounts in the Chart of Accounts.

• Understanding the Chart of Accounts.

I'm just a post away if you have other questions about managing accounts or anything QuickBooks. I'm always here to help. Have a nice day.