I need to inactivate an asset and depreciation accounts; if I do this, will this action impact the accounts' transaction within the fiscal year?

Hi gavilav-gmail-co!

Welcome and thank you for posting your question! I'm happy to share information about inactivating accounts.

Inactivating asset and depreciation accounts will not affect their transactions. They will still show up on your reports. However, if an account has a balance, QuickBooks will create an adjusting entry to zero out its balance before you can inactivate it. That entry will be part of your books and will show up on your reports as well.

If you want to do an experiment before doing this in your real QBO company, you can use the QBO test drive. Anything you input in there will be removed once you log out and close the QuickBooks page.

Here's an article for your additional reference: Delete an account on your chart of accounts in QuickBooks Online.

Let me know if you have other questions in mind.