Why can't I delete transactions from my accounts?
When a transaction is saved (or posted) to an account, it becomes part of your company's official record, and you cannot delete it. You must keep track of all the activities in each of the accounts, so you cannot remove any transactions or accounts where they are posted.
If an account is no longer in use, you can delete or inactivate it.
If an account is not a system account and does not have an opening balance or any transactions associated with it, you can delete it.
You cannot delete a system account or an account where you have entered transactions, including the opening balance, but you can change its status to Inactive. An account with Inactive status does not appear in lists in dialog boxes, forms and wizards. When you change an account status to Inactive, you can no longer select it from those lists, although you can still post entries to its nominal activity, which you can find in the Chart of Accounts Inactive view.
If a transaction is not valid, you can edit it or mark it void.
If you want to make changes to a transaction, you can edit it. You cannot edit certain transactions, such as customer payment deposits and purchase invoice payments you make to suppliers. If you want to change a customer payment deposit or purchase invoice payment, you must void it and add a new transaction.
If you want to cancel a transaction, you can mark it void.
I can't make a journal entry by clicking an account in the Chart of Accounts.
To create a new journal entry, click New Journal Entry on the Company menu. If you are in a nominal activity, click New Transaction on the Actions menu.
I am creating a new subaccount and in the Subaccount field, I clicked Add a new Financial Account. After I saved the new account, I tried to save the subaccount and got an error message.
When you created the new parent account, Microsoft Office Accounting 2008 assigned the next available ID number. To avoid this situation, if you know you are going to create a new parent account, create and save it before you create the subaccount.
I have accounts with two separate branches with the same bank. How can I track them?
You can create individual bank accounts for each branch and name or number them so that they appear next to each other on the Chart of Accounts. This allows you to record and match downloaded transactions or prepare a bank reconciliation for each account. For example, you could name the two accounts, Woodgrove Bank–Branch1 and Woodgrove Bank–Branch2.