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bryan-millardtow
August 16, 2024
Question

Can I remove a Retained Earnings account?

  • August 16, 2024
  • 1 reply
  • 0 views
I just migrated my data to QBO from another software.  I ended up with three Retained Earnings accounts.  Two had no transactions; one did (via Run Report).  I was able to Make Inactive one transaction-less account, but I'm getting an error message on the second saying I cannot remove an Account Type "Retained Earnings".  

Is there a way to remove it so that I only have one Retained Earnings account?

1 reply

T
Trish_T
August 16, 2024

Hello bryan-millardtow,

 

Welcome to Community!  Having the option to remove an account, is a great way to keep your Chart of accounts organized.  QuickBooks Online automatically creates default accounts based on the business entity you selected, when creating your QuickBooks company.  To learn more about managing default and special accounts, click here.

 

Feel free to reach out again, if you have other questions.  We would be happy to help!

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