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In this video tutorial, Peter from Black Rock Business explains how to completely delete a company in QuickBooks Point of Sale. He highlights the issue of users accumulating a long list of inactive companies, which can lead to accidental selections and confusion, causing sales to be recorded under the wrong company. To address this, Peter guides viewers on the deletion process and encourages them to join the QuickBooks Point of Sale Facebook group through a link in the description for further assistance with errors and workflows from experienced users.