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opike
Level 1

Change account type and detail type

I want to change the account type and detail type of an existing account from "Bank"/"Savings" to "Other Current Assets"/"Investments - Other". There are already transactions posted against this account. When I attempt to make the change in Quickbooks Online, I get the message:

“This account is being used on a Check, Deposit, Payment or other transaction where an account of type 'Cash' or 'Undeposited Funds' is required. You must locate and change those transactions to use a different Cash account before you can change the Account Type of this account. To find the transactions using an Account, run an Account QuickReport, or use the Account Register.”

 

So I'm trying to figure out what all of my options are here. Can I modify the transactions to allow the existing account to be converted? Or would I be better off creating a new account? (And for this option would I be able to re-add the account while the old one still exists or would I have to delete the old one first?)

 

 

1 Comment
Joesem M
QuickBooks Team

Change account type and detail type

Good day, @opike.

 

Yes, you can edit the transactions anytime to allow the existing account to be converted. If the transactions are already reconciled, keep in mind that changing it will mess up your book.

 

Also, you can create a new account to categorize and match the old transactions.


QuickBooks can also make the accounts inactive, this will hide the accounts that you no longer use from the Chart of Accounts.  

 

Here's how:

 

  1. Go to the Gear icon ⚙ and select Chart of Accounts.
  2. Find the account you want to hide.
  3. Select the small arrow ▼ in the ACTION column. Then select Make inactive.


For additional guidelines, you can refer to this article:Remove accounts you no longer use.

 

Leave a comment below if you have additional questions, I’m always here to help. Thanks for dropping by and take care!
 

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