diff --git a/account_utils.py b/account_utils.py
index 8eba3e0..ec756ad 100644
--- a/account_utils.py
+++ b/account_utils.py
@@ -191,7 +191,6 @@ def migrate_account_name(old_name: str, account_type: AccountType) -> str:
 DEFAULT_HIERARCHICAL_ACCOUNTS = [
     # Assets
     ("Assets:Bank", AccountType.ASSET, "Bank account"),
-    ("Assets:Bitcoin", AccountType.ASSET, "Bitcoin holdings"),
     ("Assets:Bitcoin:Lightning", AccountType.ASSET, "Lightning Network balance"),
     ("Assets:Bitcoin:OnChain", AccountType.ASSET, "On-chain Bitcoin wallet"),
     ("Assets:Cash", AccountType.ASSET, "Cash on hand"),
@@ -207,8 +206,8 @@ DEFAULT_HIERARCHICAL_ACCOUNTS = [
     # Liabilities
     ("Liabilities:Payable", AccountType.LIABILITY, "Money owed by the Castle"),
 
-    # Equity
-    ("Equity", AccountType.EQUITY, "Owner's equity and member contributions"),
+    # Equity - User equity accounts created dynamically as Equity:User-{user_id}
+    # No parent "Equity" account needed - hierarchy is implicit in the name
 
     # Revenue (Income in Beancount terminology)
     ("Income:Accommodation:Guests", AccountType.REVENUE, "Revenue from guest accommodation"),
diff --git a/migrations.py b/migrations.py
index a170a73..cf4222f 100644
--- a/migrations.py
+++ b/migrations.py
@@ -486,3 +486,33 @@ async def m012_update_default_accounts(db):
                     "description": description
                 }
             )
+
+
+async def m013_remove_parent_only_accounts(db):
+    """
+    Remove parent-only accounts from the database.
+
+    Since Castle doesn't interface directly with Beancount (only exports to it),
+    we don't need parent accounts that exist only for organizational hierarchy.
+    The hierarchy is implicit in the colon-separated account names.
+
+    When exporting to Beancount, the parent accounts will be inferred from the
+    hierarchical naming (e.g., "Assets:Bitcoin:Lightning" implies "Assets:Bitcoin" exists).
+
+    This keeps our database clean and prevents accidentally posting to parent accounts.
+
+    Removes:
+    - Assets:Bitcoin (parent of Lightning and OnChain)
+    - Equity (parent of user equity accounts like Equity:User-xxx)
+    """
+    # Remove Assets:Bitcoin (parent account)
+    await db.execute(
+        "DELETE FROM accounts WHERE name = :name",
+        {"name": "Assets:Bitcoin"}
+    )
+
+    # Remove Equity (parent account)
+    await db.execute(
+        "DELETE FROM accounts WHERE name = :name",
+        {"name": "Equity"}
+    )