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In this tutorial, the speaker explains how to delete a transaction in QuickBooks. To avoid messing up the actual company file, they close their real company and open a sample file. The "update company" dialog indicates the file is older than the current version, and users must allow QuickBooks to update it. They advise against entering real transactions in the sample file. The speaker modifies their view by hiding the icon bar and accessing the open windows list. They demonstrate how to enter a random bill for $1 million related to advertising. For deleting a transaction, the speaker notes it follows a similar three-step process as changing a transaction, starting with locating the transaction.