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Hi usernandanshastry,
Yes, you can. Just delete the transactions one by one to start from scratch. If you have a lot of them, I would suggest purging your account to start fresh. This option is available to QBO companies that are not more than 60 days old.
If you have been using QuickBooks for a while, I suggest signing up for a new QBO account instead. Then, cancel your existing subscription. See about creating or adding another company.
Feel free to reach back out if you have other questions in mind.
Dear Sir,
By default there are some COA as per industry types. If you do not wish the same you can delete / disable them manually and then create yours.
Let me know if any issues.
CA Alok Shah
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