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C
crhite
June 8, 2020
Question

How do I delete a bank account?

  • June 8, 2020
  • 1 reply
  • 0 views

I accidentally linked the wrong bank account to QB and now want to delete it.  When I go to the Chart of Accounts and select that account in question, the only options are:

-  View Register

-  Edit

-  Make Inactive

-  Run Report

I've seen instructions online that point to the ability to delete the account here, but I don't seem to have that capability.  I'd make inactive ,but I don't want any of the downloaded transactions (which I added before realizing it was the wrong account) to appear in any of my reporting.

 

There has to be a way.......

1 reply

MJoy_D
MJoy_D
June 8, 2020

You can click on Make Inactive to remove the account, @crhite.

 

Making it inactive will delete the account. You can go back to the Chart of Accounts to make it inactive.

 

Here's how:

  1. Go to the Gear icon (⚙) and choose Chart of Accounts.
  2. Look for the account that you'd like to delete.
  3. Click the Action (▼ )drop-down and select Make inactive.

Also, please take note on the following when you delete a bank account:

  • The bank will be made inactive in QBO.
  • We'll create an adjusting transaction if the account has a non-zero balance
  • Although you can make a deleted account active again, you may need to make corrections to journal entries and balances.

Check out this article for more helpful details: Disconnect or delete an account. To help you organize your transactions on your reports and tax forms in the future, see this article: Understand the chart of accounts in QuickBooks. 

 

Let us know if there's anything that you need with your bank account. We're always here to assist. 

C
crhiteAuthor
June 8, 2020

Thanks MaryJoyD,

 

As the account has a balance from the downloaded transactions, inactivating it creates an offsetting entry. Where do that entry go and do I need to categorize it so it doesn't effect my overall reporting? 

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