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Buy nowHello. I just bought a business and I am trying to clean up the chart of accounts. We are a relatively small business but we have 189 accounts in the chart of accounts. I am trying to make my way through them to see what is necessary and what is not. My question is this, if I am not sure if I will need it, or, if there has been a balance in 1995 and not any activity since then, can I inactivate those accounts, and if I do, will they not show up or affect my Profit and Loss statement? Thank you so much.
Solved! Go to Solution.
Thanks for getting back here in the thread, Missy.
Making an account inactive doesn't get rid of the business account in your business data or reports. To get you through this situation, you'll want to customize the Profit and Loss report and ensure it shows only those Active accounts and not those accounts that you've made deactivated.
I'll walk you through the process to help you accomplish your goal. To begin, these are the steps:
For more details about modifying a report inside QBDT, feel free to check this article: Customize reports in QuickBooks Desktop.'
Aside from that, I've got you this handy article in case you wish to have a CSV file copy of your Profit and Loss report: Export reports as Excel workbooks in QuickBooks Desktop.
It was a pleasure to have you here, Missy. Feel free to post here again if you have any additional QuickBooks-related concerns. I'll make sure to get back to you as soon as possible. Stay safe!
Hello, Missy. We appreciate you getting in touch with us and taking the time to fully describe your concern with the profit and loss report and chart of accounts. I'd be happy to provide you with information about this matter.
Yes, Missy. You can make those 1995 accounts inactive. However, they will continue to appear in the Profit and Loss report for the 1995 time period.
The following articles will help you manage your reports in QuickBooks Desktop:
If there is anything more you need to know about your chart of accounts or reports in QuickBooks Desktop, please come back again. We're always available to assist you. Be careful!
But would they show up on my 2023 profit and loss if they are inactive?
Thank you.
Thanks for getting back here in the thread, Missy.
Making an account inactive doesn't get rid of the business account in your business data or reports. To get you through this situation, you'll want to customize the Profit and Loss report and ensure it shows only those Active accounts and not those accounts that you've made deactivated.
I'll walk you through the process to help you accomplish your goal. To begin, these are the steps:
For more details about modifying a report inside QBDT, feel free to check this article: Customize reports in QuickBooks Desktop.'
Aside from that, I've got you this handy article in case you wish to have a CSV file copy of your Profit and Loss report: Export reports as Excel workbooks in QuickBooks Desktop.
It was a pleasure to have you here, Missy. Feel free to post here again if you have any additional QuickBooks-related concerns. I'll make sure to get back to you as soon as possible. Stay safe!
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