Fixed Asset- Personal property recorded in error

Good Afternoon, @eSGlobal. 

I've got you covered. All you need to do is void or delete the transactions and then make the account inactive or delete it. It's that simple. Here's how: 

Delete Transactions

1. Go to the Lists menu. 
2. Pick Chart of Accounts. 
3. Locate and press the account you'd like to delete the transactions out of. 
4. Right-click on each transaction and select Void or Delete based on the transaction and how your accountant would like you to do it. 

Delete Chart of Account

1. Go through steps 1-2 from above. 
2. Right-click on the account and choose to Make account inactive or Delete Account. 

Here's an extra article that can help you along the way: 

• Create, edit, or delete account in QuickBooks Desktop

Should you need further assistance, don't hesitate to ask. I'm always here to lend a helping hand. Have a wonderful day! 

Unable to delete these accounts as the entries were made 2 years ago.  They are just now realizing this was a Personal Home, not a Company investment.

Hello, @eSGlobal.

You'd want to make sure that the account has a zero balance and no transaction such as an invoice, payroll, etc. is associate with it. This way, you can delete the account.

Let's run your Transaction Detail by Account report. From here, we can locate the transaction your CPA wants you to delete easily.

1. Go to the Reports menu.
2. Scroll down to Accountant and Taxes.
3. Choose Transaction Detail by Account.
4. Click the Customize Report button.
5. Set the report date to 2 years ago.
6. Click the Filter tab.
7. From the Account drop-down, select the Fixed Asset account.
8. Click Ok.

Once you have located the account and the transactions, you can follow the steps shared by my colleague, @Candice C, in deleting the transactions and the account.

I've added these articles to help you get your way around QuickBooks Chart of accounts window and reports page:

• Understand the chart of accounts in QuickBooks
• Customize reports

Get back to us here if you have other questions about managing your client's data. I'm always here to help.

The CPA says I can not delete the accounts. they must remain for audit purposes.

He wants the entries reversed in the current year but that is the only direction he provides.
I can reverse the Accumulated depreciation for the Current year but what entries should be made in the Current year for the Prior Year?
What about the cash we actually paid out to the mortgage company this year and in prior year?
What account do I offset the FA to zero the account?