All About Deleting Accounts & Transactions in QuickBooksRay writes: I’m having trouble deleting accounts in QuickBooks, a checking account to be specific. I voided every transaction in the register, bringing it to a zero balance. QuickBooks will only let me make the account inactive, and won’t let me delete it. I want to delete it since I don’t need it anymore. My reply: QuickBooks does not allow us to delete any accounts that have transactions in them. Since this account has transactions in it, you can never permanently remove it, even though it has a zero balance. Voided transactions count! Why Can’t We Delete It? Your well-used QuickBooks file is like a tapestry. All transactions are interwoven, linked one with another, on and on, throughout the history of your file. Permanently removing an account with transactions in it is like taking scissors and cutting the tapestry, and cutting it so that it can’t be repaired. This is because deleting an account with transactions changes the balances in other accounts, and alters previous financial statements. This is still true to a lesser extent when transactions are voided. This is a good time to explain the difference between the terms Void, Delete, and Reverse in QuickBooks. They all have their place, and it’s important to know when to do which. Once you get this, you will know better what to do. Click the links below to explore these more advanced topics in QuickBooks.
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