Let's edit the accumulated depreciation to ensure accurate financial reporting in QuickBooks Online (QBO).
Here's how:
Log in to your QuickBooks Online account.
Click on the Gear icon located on the top right corner of the screen.
Select Chart of Accounts.
Locate the account that holds the accumulated depreciation amount.
Click the dropdown under the Action column.
Identify the entry that needs to be edited and click on it.
Make the necessary changes to the accumulated depreciation amount
Additionally, you can modify your reports in QuickBooks to show the correct data for each company. Here are articles you can use to make changes to the filters and other information: