Thank you for the response however these are the same directions I have tried to no avail.  

"Click on New and then select the Inventory part." - Where am I clicking on New?  After logging in I don't see anything that says New.  I have entered the Item List and found the inventory part.  When I launch Quick Reports I see the transaction I want to delete however when I right click on the line all I get is the properties of the report (font, size, etc).  What step am I missing?