Can I completely remove a previous years transactions from our Quickbooks online account?

Thank you for visiting the QuickBooks Community. I'll be sharing steps to ensure you'll be able to delete data in QuickBooks Online.

Yes, you can completely remove the previous year's transactions from your Quickbooks Online account. Please know that you'll have to manually delete those entries on the register page. Then, doing them as bulk is currently unavailable.

Here's how:

1. Go to the Gear icon and select Chart of Accounts.
2. Find the specific account associated with the transactions that you want to delete. Then, choose View register in the Action column.
3. Click the Funnel dropdown arrow and choose a specific date in the Date field.
4. You can also use the Find field to search by amount, reference number, or memo. 
5. Choose the  Apply button.
6. Select each transaction and click it to expand the page.
7. Click the Delete button and choose Yes to confirm.

For additional information on how to find transactions in your account registers so you can review, edit, and delete them, you can click this article: Find, review, and edit transactions in account registers.

I'm also adding this article so you can share it with the new owner of the business/account to further guide them in effectively managing a business using QBO: Help guide for QuickBooks Online. It contains topics about advanced accounting, banking, and payments to name a few.

Let me know if there's anything else you need help with removing data in QBO. I'm always here to help you anytime. Take care and keep safe!

@drilling1978-gma 

I would recommend to buy a new blank QBO account and migrate the CoA and List from the old account prior to canceling it.

https://quickbooks.grsm.io/US

https://quickbooks.grsm.io/us-promo

Another option, utilize a deleter tool

https://transactionpro.grsm.io/qbo