Once you add an account to the chart of accounts list, you cannot delete it; however, if you decide that you no longer want to use an account, you can inactivate the account. Inactivating an account will remove the account from the chart of accounts list and the drop-down menus, but it will still exist in the program. This will ensure that any transactions that have been recorded will remain intact, which will also ensure that you have accurate financial statements.
To inactivate an account, go through the following steps:
- Click on the Accounting tab located on the left menu bar and select Chart of Accounts, as shown in the following screenshot:
- Scroll through the chart of accounts list to find the account you want to edit. In the ACTION column on the far right, click on the arrow located to the right of Run report, as shown in the following screenshot:
- Select Make inactive from the drop-down arrow...