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January 10, 2022
Question

Can I make my GST Payable Account inactive? I use the GST summary report quarterly and have created my own GST Remittance expense account to track those amounts.

  • January 10, 2022
  • 1 reply
  • 0 views

I believe the payable account is impacting my balance sheet and would like that not to happen.

1 reply

January 12, 2022

Hi TGiTA,

 

It's nice to see you reaching out here.  QuickBooks Online is a versatile program that helps you manage your business with peace of mind.  I can see how removing an account from the chart of accounts can be beneficial to keep your books clean and organized.  I'd be happy to provide guidance here!

 

Your chart of accounts is created based on the information provided when setting up your company.  Additional accounts are added automatically based on your industry.  You can make an account inactive as long as the balance is zero, or if the account has never been used.  Before making a GST payable account inactive, I suggest reaching out to your accountant as this may have dramatic affects on other areas of your books.  If you don't have an accountant, we can assist you with locating a ProAdvisor in your local area.

 

To learn more about the chart of accounts and how to delete accounts, click here.

 

Please feel free to reach back out with any other questions.  We'd be glad to assist!