How Do I Delete a Credit Card in QuickBooks? Questions About Credit Cards #4
Question: I have a credit card which has long been cancelled, and I don’t want those transactions to muck up my company file. How do I delete a credit card in QuickBooks?
Answer: You should not truly delete a credit card in QuickBooks. QuickBooks will not let you delete a credit card register as long as it has transactions in it. You could delete all of these transactions, but if they’re real transactions which are linked to your company’s finances, deleting them is a bad idea. Plus, if you pass forward some of your charges to customers, deleting the transactions would skew your job costing reports and mess up your invoices. Even if these transactions are old, they’re still relevant to the overall picture of your company’s finances.
HOW TO DELETE A CREDIT CARD IN QUICKBOOKS FOR DESKTOP VERSIONS:
A better way to deal with old credit cards is to make the account inactive. This keeps the transactions in QuickBooks, but out of your way. Making a credit card account inactive is easy: first, make sure there is a balance of zero. Then, open your Chart of Accounts and locate the account in question.
If you later decide you want to re-activate the account, you can do so from your Chart of Accounts. Check the box on the bottom of the screen by “Show Inactive Accounts,” and you’ll see the inactive accounts as well as active ones. Right-click the inactive account, and select “Make Account Active.”
HOW TO DELETE A CREDIT CARD IN QUICKBOOKS FOR QUICKBOOKS ONLINE:
QuickBooks online does allow you to delete accounts, but you should know that you can restore the data later at any time, so the account isn’t ‘deleted’ in the truest sense of the word. That’s a good thing, though, for the reasons we discussed before.
To delete an account in QuickBooks online, first go to your Chart of Accounts. Then, simply highlight the account you want to delete and click the ‘Delete’ button. When QuickBooks asks you if you’re sure, click ‘Yes.’ If your account is connected with online banking, follow the prompts.
To reactivate it, go to your Chart of Accounts and click the ‘Related Reports’ button on the top right hand. Open the ‘Deleted Accounts’ report. Click on the account you want to reactivate, and find the check box next to “Deleted.”
Uncheck the box, and the account will be active once again.
Did you know: When you have online banking set up, you can use ProOnGo to sync with your credit card register, allowing you and your employees to categorize, edit, and add receipt images to your credit card transactions from any smart phone, any where, and at any time. Check out our Credit Card Sync.