If you do not have any entries in a Payment Account or Charge To Account you can delete it. If you have transactions in the account you can change the account name, but you cannot delete it.
To Delete An Account:
Display the Income & Expenses window as outlined in About Income and Expenses.
Click the Setup 
button located on the Income
& Expenses toolbar. From the Setup pulldown menu choose Delete
Accounts. From the Delete Accounts
pulldown menu choose between Payment
Account or Charge
To Account. The Delete
Account dialog box is displayed.
Click OK. The Accounts List is displayed.
Double click on the Account Name you wish to delete.
A message dialog box is displayed verifying the account has been deleted.
