Hello, Can I reset my stock on Quickbooks ? Thank you in advance, Best regards,

Welcome aboard to the Community, @Caroline16.

Let me assist you with your concern about stocks in QuickBooks Online.

We want to help you with your questions about resetting a stock. However, we need more information about it to provide the resolution you need and to get this sorted out quickly.

Are you referring to restocking or adjusting the quantity of your inventory? Any additional details you can add will help ensure a timely solution.

If yes, I suggest making inventory adjustments through these steps:

1. Click the + New option.
2. Below Other, select Inventory Qty Adjustment.
3. Enter the adjustment date.
4. In the Inventory adjustment account drop-down, select the appropriate account.
5. Select the products in the Product field drop-down. (Note: The description and current quantity on hand will auto-populate.)
6. For each item, enter either a new quantity or a change in quantity.
7. (Optional) In the Memo field, enter the details about the adjustment.
8. Select Save and close.

I've also included some

Hello AlcaeusF, 

Thank you for your reply !

No, I'm not referring to restocking of adjusting any quantity. 

I would like to delete everything I've done regarding my Stock (Inventory) and start over.

Is it possible ?

Thanks in advance, 

Best regards

@Caroline16 

Which QBO country version do you have? How old is your account?

Hi, Caroline16.

Allow me to step in and share with you some information regarding resetting the QuickBooks Online account.

If your QuickBooks Online data is less than 60 days, you have the option to purge your account if you're using QuickBooks Online Essentials, Plus, and Advanced. Please be reminded that the system deletes all data entered into the company, and restoring them isn't possible.

To purge the data, follow the steps listed below:

1. Log in to your QuickBooks Online account.
2. Change the URL to include /purgecompany.
3. Example: URL shows https://...qbo.intuit.com/app/homepage, change to https://...qbo.intuit.com/app/purgecompany.
4. The next screen will provide a summary of the items to be deleted.
5. Type the word “YES” once the data gets deleted, then click OK.
6. Click Wipe Data once your selections are complete.
7. Once the deletion is complete, you will be rerouted to your home page.

However, if it's more than 60 days old, you need to cancel your account and start a new subscription.

To cancel your account:

1. Go to Gear icon and select Account and Settings under Your Company.
2. Select the Billing and subscription tab.
3. In the QuickBooks section, select Cancel.
4. Follow the steps to cancel your account. If you use payroll, you should cancel your payroll account too.

To start a new account:

1. Go to https://quickbooks.intuit.com/choose-country/.
2. Fill up the User ID and password.
3. You can use the same user ID and a password you previously had. If you activated payroll in the account, this is the best option for you.

You can get more details about this process in this article: Delete your data and start over in QuickBooks Online.

Additionally, you can visit the following link. This will provide you with articles and videos about managing your QuickBooks Online account, income, expenses, inventory, and running reports: Help Articles for QuickBooks Online.

Let me know how the result of this troubleshooting in the comment below. I need to make sure this is resolved and you're back to running your normal business processing. All the best!

Hello Rose MarjorieA, 

Sorry I might not have been clear enough. 

I'm perfectly happy with our Quickbooks profile, I don't want to purge my account. 

I only want to reset my Inventory Stock (Products and Services - Inventory). 

Best regards

@Caroline16 

QBO does not currently allow list items such as Accounts, Customer, Vendors, Products/Services to be deleted. Selecting these items with a deleter tool will not delete them from the QBO company but instead change the list item's status to INACTIVE in bulk.

So you may have 3 options:

1. Utilize the trial period of TP Deleter to inactive them

https://transactionpro.grsm.io/qbo

2. Export all your data out to XLS, purge your account completely, and reimport all data but Products/Services List by using TP.

3. Export all your data out to XLS, open a new QBO account with current discounted rate, and reimport all data but Products/Services List by using TP.

https://quickbooks.grsm.io/EU

https://quickbooks.grsm.io/Asia-Pacific

Good day, can QB please reset my inventory to zero without it automatically increasing stock shrinkage? I have the file with correct inventory. An employee made numerous changes leaving us with massive stock shrinkage 

Thanks for joining us here in the Community, @Jacques van Vuuren.

I've got some insights to share about managing your inventory in QuickBooks Online.

At this time, QuickBooks Online allows you to reset the inventory by creating an adjustment. Being able to zero out the inventory automatically is currently unavailable.

You can manually adjust an item's quantity without recording a purchase or sale, to match what you actually have in stock. 

Here's how:

1. Click on + New.
2. Select Inventory Qty Adjustment.
3. Enter the Adjustment Date.
4. In the Inventory adjustment account drop-down, select the appropriate account.
5. Select the products in the Product field. Note: The description and current quantity on hand auto-populate.
6. For each item, enter either a new quantity or a change in quantity.
7. In the Memo field, enter the details about the adjustment.
8. When you're done, select Save and close.

To learn more about this process, please see this link: Learn more about inventory quantity in QuickBooks Online.

If you want to remove the balance on the shrinkage account, I'd recommend reaching out to your accountant. They'll be able to guide you in performing the best course of action for your business. 

You can also look for an accountant from our site: Build a stronger business with a QuickBooks.

I'm also adding here some links that you can check out to learn more about managing inventory in QuickBooks Online: 

• Edit an inventory quantity adjustment
• Learn how to track your inventory in QuickBooks Online Plus

I'll be around to help you if you need more assistance with inventory. Just leave a reply below. Keep safe!