Content Leader
This widget could not be displayed.

Re: I just want to express how pathetic I think the usage limits are. It appears to be an obvious...

Good afternoon, @Soon-to-be-ex user.


I have some information to offer regarding your Inventory Asset account. This account is part of a small list of default items that QuickBooks needs to perform core functionalities. This account in particular is created when you enable the Track inventory quantity on hand setting, and is used to record the asset value of all inventory items by default.


This means that if you remove the account, but then create (or delete) any transaction that involves an inventory item with this account assigned, it will be recreated to properly record the transaction. If you'd like to remove the Inventory Asset account, you'll have to re-assign the Asset account linked to your Inventory items like so:


Reassigning Inventory Asset Accounts

  1. From QuickBooks Online, click the Gear icon (⚙) > Products and Services.
  2. For each item on the list of the Inventory type, click Edit.
  3. Under Inventory Asset account, click the ▼ drop-down and select a new Asset account.
  4. Be sure to click Save and close for each item.

This information is also available from our detailed guide on inventory tracking for your convenience. I've attached a brief video demonstration of these steps below:


Once you've made sure the default Inventory Asset account isn't assigned to any Inventory items, it can be permanently removed from your Chart of Accounts.


I recommend checking out our awesome guide on managing the default and special accounts in QBO to further help you keep under the Usage Limit. Please don't hesitate to let me know if you need any additional assistance, I'm always happy to lend a helping hand. Thanks for coming to the Community and have a magnificent rest of your day.