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lawrenanne1
November 7, 2022
Question

hiding $0 fixed asset accounts

  • November 7, 2022
  • 1 reply
  • 0 views

I have an asset account that has subaccounts with $70K in assets and $70K in amortization, so the higher level account is $0.  I want to hide this account on the balance sheet, but inactivating it doesn't work since the subaccounts have dollar values in them.  I can just merge them into the higher-level account but I would like to know if that's the best way to do it from a management accounting best practice perspective.  Thanks!

1 reply

A
Amanda-B
November 7, 2022

Hey there lawrenanne1,

 

Thanks for reaching out to us here. Making sure you're modifying your accounts in Chart of accounts correctly is an important step in maintaining clean books. I would be happy to point you in the right direction for the best assistance.

 

To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice. They'll be able to guide you in choosing the best course of action in order to keep your books balanced. You can add your accountant to your books by going to the My Accountant tab of your QuickBooks account. You can also find an accountant that has experience using QuickBooks near you by clicking on the Find a pro to help option in that section.


If you have any other questions, feel free to reach out here.

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