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can't delete account from 3 years ago

Hi,

I am writing this for a friend and will do my best to explain.

The employee before him (I think the boss's wife perhaps) set up an account called Bosses Personal Account. When the boss wanted to transfer money out of the savings account for his personal use, he had her transfer it to the "personal" account in order for it to deduct from the business acct. They would then take the money from the business acct via a cash withdrawl.

Problem is now the "personal" account which is no longer used and was only a fictitious account anyway shows $xx,000 in it. QB told my friend to delete the 4 entries and then the account, which he did. BUT, it added the money back into the account that the transfers were originally made from.

Does anyone know how you can completely remove an account with money in it without the money being added back to the original account?

Thanks,

Quickbooks 2005 Premiere

Reply to
KB
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You can't, otherwise anyone could just erase historical transactions willy-nilly with no repurcussions. The books have to balance so that money has to go somewhere. The only way to delete an account is to delete its historical transactions but you have to reassign those transactions to another account. I recommend your friend re-enter the transactions as they were originally then just make the account inactive (right-click on account name and "make inactive"). That will hide it from view but will keep the books accurate.

Reply to
Tee

You can also merge the account into another account to remove it. To merge accounts simply rename the account to one (must be of the same type) that already exists .

Reply to
Allan Martin

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