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info-tandkfinanc
Level 1

Delete checking account

 
1 Comment 1
Shania_C
QuickBooks Team

Delete checking account

Welcome to the Community, @info.

 

I'll share some information on how to delete a checking account in QuickBooks Online (QBO).

 

In QuickBooks Online, you cannot delete an account from the chart of accounts directly. This design choice is intentional to prevent accidental deletion of important transaction history. Instead, QuickBooks allows you to inactive accounts. 

 

What to know before making an account inactive

 

  • You cannot permanently delete an account, except for merging one account into another.
  • Making an account inactive does not delete its transactions. Transactions associated with any deactivated account remain intact.
  • If you want to edit or delete a transaction that is linked to an inactive account, you won't be able to do so. To be able to make changes, you'll need to restore the account first. Once restored, you can access the register and delete the individual entry. After that, you'll need to analyze the account and make sure the balance is zero before deactivating it again.
  • Before you make an account inactive in your QuickBooks Online balance sheet, ensure that the current balance of the account is zero. If the balance isn't zero, QuickBooks Online will automatically adjust the entry to zero out the remaining balance of the inactive account. This automatic entry will be posted to the Opening Balance Equity account, which is equivalent to posting in the previous year. However, this entry could potentially lead to incorrect tax information being filed. So, it's essential to ensure that the balance of the account is zero before making it inactive.

 

When you're ready to make an account inactive here's how:

 

  1. Go to Settings and select Chart of Accounts.
  2. Look for the account you want to delete.
  3. Select the Action ▼ dropdown and select Make inactive.

 

To know more about making an account inactive you can check this article: Make an account inactive on your chart of accounts in QuickBooks Online

 

I'll be sharing some articles that can help you manage your transactions after performing the task in QBDT: Make an account inactive on your chart of accounts in QuickBooks Online

 

I'd also recommend checking out these articles for more reference about how to review downloaded bank and credit card transactions and reconcile your accounts, so they always match your bank and credit card statements:

 

 

I'm only a comment away if you have any questions about deleting your checking account in QBO. Take care and enjoy your weekend.

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