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I mistakenly created a new fixed asset account with an opening balance and i want to either delete the newly created fixed asset account or remove its opening balance that was created in error.
Hi there. I can help you completely delete the accidentally created fixed assets in your QuickBooks Online (QBO).
The option to delete an account in your Chart of accounts is unavailable. However, you can make the account inactive instead. This option will still make the account deleted, and you won't be able to use the account anymore.
Here's how:
I've also added a screenshot for your visual reference.
Please know that the inactive accounts are considered deleted, and they'll still show on the list of accounts. If you don't want to show on the list, leave the box blank on the Include inactive option.
However, if you don't want to delete the account, you can edit the Opening balance instead.
Here's how:
In addition, you can refer to this article to learn how to depreciate assets manually in QBO: Depreciate assets in QBO.
Comment on the post if you still have concerns about your fixed assets. I'm always here to help.
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