I experimented inventorizing my equity investments in Quickbooks. Found it is not a great idea. Now i want to undo all the tax accounts which got opened consequently

I’m here to help undo your tax accounts in QuickBooks, @rkhk276.

Thanks for visiting the Community. Let me share information on how to delete an account in QuickBooks Online.

You have the option to delete accounts especially if they’re no longer in use. Since these tax accounts open consequently, you can remove them so you can create a new one. Doing this doesn’t erase your transactions, so your reports remain intact. You can also restore them at any time.

Here’s how:

1. Click on the Gear icon at the top.
2. Under Your Company section, select Chart of Accounts (COA).
3. Look for the account that you want to delete.
4. In the Action column, choose the drop-down, then click Make inactive.
5. Press Yes for confirmation.
   

If one of the accounts is a default account, please know that you’re unable to remove them. When you create a company, QBO creates specific accounts by default. Check out this reference to view the following default and special accounts.

I’ve also added this article to learn more about the Chart of Accounts in QuickBooks. It provides depth information and a more detailed breakdown of account types.

Please feel free to come back in if you have further questions about deleting accounts in QuickBooks. I’m always here to answer it for you. Have a good one!