I have set up a new chart of accounts but entered it as the wrong type. How can I fix this?

Hi lprincegorman-ho

From the Accounting -> Chart of Accounts find the account in the list and under the Actions column use the Edit function.  Here you should be able to change the account type.  There will be certain exceptions like AP that if they have postings you won't be able to change the account type.

Hi there Iprincegorman-ho,

Making sure that your chart of accounts is set up properly is a big part of the bookkeeping process. QuickBooks Online has the ability to let you customize accounts to best suit your business needs. I can elaborate further on what lashedlifter has explained.

You can change the accounts of most account types, however some can't be modified. For those other account types that can't be edited, it'd be best to create a new account using the New button located at the top right of the screen in the Chart of Accounts page. You can make the account you created by mistake inactive by clicking on the dropdown menu in the Action tab and selecting Make inactive. Here's an article that may be of help to Add to or edit the Chart of Accounts. There's also a link within this article that talks about the default accounts and which can and can't be edited.

I hope this helps you with the setup of your chart of accounts. If you have any more questions, feel free to post them here.