I entered a credit card. Added a charge to the card. This was a test.

I then went to the chart of accounts and deleted the card.

Now, the charge that was on the card ($39.99) is listed as opening balance equity. Evidently, I missed a warning when I deleted the card account.

I can't find a way to kill this figure from the OBE. Nothing I have tried works - new card account, addeing a credit - nothing.

I would love to know how to fix this. The opening balance equity should be $0.

The closest I have come is a message from QB saying to "Undelete" the card I deleted. But I can't find that either.

Blue... hmmm not sure how you even were able to do this!! If you added a credit card to the COA, created a charge on that and then tried to delete the credit card, QB shouldn't let you do that since there is activity on the account. I tried to get it to do what you describe and I can't! I'm either missing something, or you have a glitch in your file... what QB are you using?

--shel

Quote:

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Originally Posted by seashell99

Blue...hmmm not sure how you even were able to do this!!! If you added a credit card to the COA, created a charge on that and then tried to delete the credit card, QB shouldn't let you do that since there is activity on the account. I tried to get it to do what you describe and I can't! I'm either missing something, or you have a glitch in your file...what QB are you using?

--shel

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I am using QuickBooks Online, Small Business. When it deleted the account from the chart of accounts, it compensated for the dollar amount by sticking it in the opening equity. And the system won't allow me to edit the opening equity because a messag then comes up saying that it would create a non zero blance on a deleted card.

Blue, I've used online before, but I'm not that familiar with it. I would first try to see if you could write an adjustment to OBE to get that 39.99 out... where is the offset? A/P?? You would need to adjust that as well. I still think that you may have a glitch, because QB will not normally let you delete anything with activity on it (items, accounts, customers, etc).
Good luck!
-shel

Awesome! Got the answer from Quick Books customer service via phone and email:

Undelete the credit card, delete the associated transactions, then delete the credit card again.

- Cursor over the Company tab and click on Chart of Accounts from the drop down menu.
- Click Related Reports at the top right of the screen.
- Click Deleted Accounts.
- Click the credit card account to open its information screen.
- Click the box next to Deleted at the bottom left to remove the check mark and click Save.
- From the chart of accounts, click the credit card name once to highlight it and click Report at the lower right corner of the screen.
- When the report opens, select All Dates as the Transaction date at the top left of the screen and click Run Report to refresh it.
- Click each transaction to open it and click Delete.
- Once all transactions are deleted, click the credit card name on the chart of accounts to highlight it and click Delete.

Blue - Glad to hear that. I suppose Online is different (in that you can delete an account with activity). In regular QB, there is no such thing as undeleted accounts... once it's deleted, it's gone. So, I guess that is good for you!
I did print out your response, just in case this comes up again!

-shel

Quote:

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Originally Posted by BlueBongos

I entered a credit card. Added a charge to the card. This was a test.

I then went to the chart of accounts and deleted the card.

Now, the charge that was on the card ($39.99) is listed as opening balance equity. evidently, I missed a warning when I deleted the card account.

I can't find a way to kill this figure from the OBE. Nothing I have tried works - new card account, addeing a credit - nothing.

I would love to know how to fix this. The opening balance equity should be $0.

The closest I have come is a message from QB saying to "Undelete" the card I deleted. But I can't find that either.

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This is yet another reason why I don't like QB. It lets you do basically anything many things you should not be able to do.