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In this video tutorial, the presenter explains how to hide an account from the chart of accounts in a bookkeeping system. They demonstrate this process by reviewing a sample file, identifying unnecessary accounts such as 'billable expense income.' The presenter shows how to hide it by clicking on a dropdown menu and selecting 'make inactive,' confirming the action. Once hidden, the account no longer appears in the income options. If the user mistakenly hides an account and later needs it, they can reactivate it by clicking the gear icon and selecting 'include inactive accounts.'