How to delete old accounts from the balance sheet

Hello there, TUSSU.

QuickBooks Online (QBO) is currently unable to delete accounts from your Chart of Accounts. However, I'd be glad to show you how to make them inactive, which is similar to deleting them.

Before inactivating a balance sheet account, you'll have to correct the balance to zero. Otherwise, QBO automatically makes an adjustment entry to zero out the non-zero balance of the inactive account. This entry posts to the Opening Balance Equity account, which is the equivalent of posting to previous years. The input could result in an inaccurate filing of tax information.

Here's how to make an account inactive:

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

 Once done, you can remove the deleted accounts from your Balance Sheet report. 

Additionally, you can import a spreadsheet of custom or existing accounts from another company file to your QBO account. This way, you may avoid having to enter them manually.

Fill me in if you have additional concerns about your accounts in QBO. I'll be with you to answer your questions. Stay safe!

Glad to join you here and answer your inquiries about old accounts and how they impact your financial reports, TUSSU.

I'll share the steps on how you can remove the inactive accounts from your Balance Sheet and other financial report. Here's how: 

1. Go back to your Balance Sheet report.
2. Click Customize at the top left.
3. Scroll down to Rows/Columns, then set Show non-zero or active only to Non-zero.
4. Select Run report.

Additional details about this function are discussed here: Remove Deleted Accounts from Reports in QuickBooks Online.

Aside from that, you can also make the old accounts inactive. QBO will automatically creates an adjustment to zero out the balance. The automatic entry posts to the Opening Balance Equity account. This way the account will no longer impact your Balance Sheet. 

Here's an article that talks about this option for more details: Make an Account Inactive on Your Chart of Accounts in QuickBooks Online.

Lastly, allow me to share these articles for additional information and guidance when running reports in QBO:

• Customize Reports in QuickBooks Online
• Common Custom Reports in QuickBooks Online

Feel free to reply to me and ask follow-up questions if you still need more guidance with this. I'll jump right back and offer my help again.