I set up a new company in QuickBooks Pro Desktop as a non-profit and now want to change that designation to sole proprietor. How do I do that? The organization is very small, with no payroll and just simple and infrequent donations and expenses.
Hi there, marty54.
You can go to the company settings window and change the information. Here's how:
Although, changing the information in the company settings will not affect your Chart of Accounts. You will still need to delete or inactivate accounts that aren't used for Sole Proprietor type of companies.
You also have the option to create another company file without extra charge. Then, select the correct type of business. Please see this link for more details: https://community.intuit.com/articles/1763152.
Let me know if you have other questions.
Thanks for coming back to us, @marty54.
Yes, you’re right. You can start a new file and export the vendor and customer list from the old one, then import them over.
Take a look at the following articles for reference:
Make sure to set up the Sole Proprietor file first before deleting the Non-Profit company. Print all the reports needed to re-create the AR and AP year-end balances. For more information about the process, check out this article: Start a new company file.
That should get you pointed in the right direction.
Let me know how this goes by leaving a comment below. Thanks for dropping by and take care!
Okay, I understand all that, but fortunately don't need to do any of that saving and exporting because I didn't enter any data or set up anything further once I realized the Chart of Accounts was not what I wanted. I just deleted the company and started over and now am starting to populate the new company.
Thanks for sharing the troubleshooting you've tried, @marty54.
I can add some insights on how changing the company designation works in QuickBooks Desktop.
Based on the information you've provided, it seems like you're referring to the Industry Type after installing QuickBooks. If so, we can reinstall the program using a clean install to toggle to a different edition. Please make sure to back up the company file before doing this.
Once done, you'll be given the option to choose an edition when you open the program for the first time. Just make sure to select the correct one (general, contractor, manufacturing & wholesale, nonprofit, professional services or retail). Lastly, restore your backup company file.
On the other hand, QuickBooks Desktop Premier, Accountant, Enterprise Solutions Accountant, and QuickBooks Enterprise Solutions have the toggle feature. This enables them to change the QuickBooks edition from a specific industry to another.
That should do the trick.
Keep me posted on your success after following these steps. I'll be around should you need any assistance. Have a great day.