I have created account - Funrniture and fixtures with wrong values and made it inactive. But it is still showing in the balance sheet like FURNITURE & FIXTURES (deleted-1

Welcome to the Community forum, @ganeshaks92.

When making an account inactive, it gets removed from the Chart of Accounts. If it has transactions, it'll remain part of your company data. Thus, deleting accounts doesn’t erase your transactions, so your reports won’t change. That's it's showing on your balance sheet.

To learn more about how Chart of Accounts work, see the below articles:

• Learn about the chart of accounts in QuickBooks
• Delete an account on your chart of accounts in QuickBooks Online

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