Common reasons for resetting an AccountsPrep company are:
You need to change the Chart of Accounts (CoA)
You need to remove all company data and start again after setup or processing mistakes
You can only reset a company before posting transactions or enabling reporting.
After reporting starts, AccountsPrep no longer allows company resets.
Reset a company
Go to Settings, then select Company Setup.
Select Reset company.
AccountsPrep only allows the reset if the company doesn't contain transactions.
Income Tax enablement and reporting
AccountsPrep includes two separate Enable Income Tax options.
Enable Income Tax in Settings
The Enable Income Tax option in Settings:
Turns on Making Tax Digital functionality
Adds Income Tax categories
Doesn't create Ledger Service reporting
Allows company resets if no transactions exist
At this stage, nothing appears in the Income Tax reports.
Enable reporting after importing bank data
AccountsPrep shows another Enable Income Tax option after importing bank statement data.
This option:
Enables Income Tax reporting
Starts transaction posting
Prevents future company resets
After enabling reporting, AccountsPrep can't reset the company or replace the Chart of Accounts.
Why company reset becomes unavailable
AccountsPrep blocks company resets after reporting or transaction posting starts because:
Transactions create an audit trail
You can't permanently delete some transactions
AccountsPrep can't fully replace the Chart of Accounts after reporting starts
Additional information
AccountsPrep supports bulk transaction deletion before reporting starts
Currently, you can't permanently delete some cash sales and expense transactions after reporting starts
Reset the company before enabling reporting if you need to change the Chart of Accounts or restart the setup process