I set up a Promissory Note with a balloon payment as a Loan Account that I made to someone. I set this up wrong. There are no transactions and I am trying to delete the account to set it up properly but it does not allow the Delete Account option. I can’t seem to remove the Balance that I created when setting it up. Under the Home view it shows zero balance even though I entered a loan amount. Any suggestions to delete the account?
To delete the account, nothing can reference it.
Most likely is that the Schedule which was created when the loan account was created is still present. Check the Schedules View to see if it is still there, and if you can delete it.
It sounds like you have confirmed there are no transactions in the account, except you say it has a balance. I forget whether loan accounts have an “opening balance” transaction, but that is also something to check for - in the ledger for the loan account
Let us know if neither of these is your problem, and we’ll keep looking for a solution.
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Thank you for your help. I went to the Schedules View and deleted them for the account. After that I had the option to delete. Much thanks.