Can i do a totally new chart of accounts from the scratch

Hi usernandanshastry,

Yes, you can. Just delete the transactions one by one to start from scratch. If you have a lot of them, I would suggest purging your account to start fresh. This option is available to QBO companies that are not more than 60 days old.

1. Log in to your QuickBooks Online account.
2. Add this to the URL: /purgecompany.
   Example: URL shows https://qbo.intuit.com/c28/app/homepage, change it to https://qbo.intuit.com/c28/app/purgecompany.
3. The next screen will provide a summary of the items to be deleted.
4. Type the word “YES” once the data gets deleted, then click OK.
5. Click Wipe Data once your selections are complete.
6. Once the deletion is complete, you will be rerouted to your dashboard.

If you have been using QuickBooks for a while, I suggest signing up for a new QBO account instead. Then, cancel your existing subscription. See about creating or adding another company.

Feel free to reach back out if you have other questions in mind.

Dear Sir,

By default there are some COA as per industry types. If you do not wish the same you can delete / disable them manually and then create yours. 

Let me know if any issues.

CA Alok Shah