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Anonymous
Not applicable

Changing Accounts Payable to Other Current Liabilities

Hello!

Our Chart of Accounts was not properly set up and payroll withholding is currently listed under accounts payable. I am needing to change this over to Other Current Liabilities, but am receiving an error message saying, "you can't change the account type AP to be another account type." 

 

I tried creating new accounts in an attempt to switch them over, but am unable to delete the original withholding AP accounts since although they are at a zero balance, they contain data from a prior month.

 

How do I go about rectifying this?

6 Comments
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Level 3

Changing Accounts Payable to Other Current Liabilities

Hi Jennifer... are you just doing the change for your payroll transactions to show up in the correct chart of account? 

 

If this is the case, you can try updating your accounting preferences for Payroll. Learn more about this here: https://quickbooks.intuit.com/community/Help-Articles/Payroll-accounting-preferences/td-p/185710

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Level 1

Changing Accounts Payable to Other Current Liabilities

I have also has this issue.  I am trying to change the account type due to an SBA loan being added as an A/P account instead of Other Current Liabilities account type.  Is it not possible to change the account type once it is added to QuickBooks?

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QuickBooks Team

Changing Accounts Payable to Other Current Liabilities

Good Afternoon, @kj34

 

Thanks for joining in on this thread. Let's work together and tackle this account type problem. 

 

No worries. I can walk you through the steps to help change your SBA loan type from A/P account to Other Current Liabilities. All you need to do is export the transactions to an Excel CSV file and import them back into the new chart of account that you create. 

 

Create a New Chart of Account: Other Current Liabilities

 

  1. Go to the Accounting tab. 
  2. Select the Chart of Accounts portion. 
  3. Press the New bubble at the top right-hand corner. 
  4. Enter in all the required information (Other Current Liabilities). 
  5. When you're done, tap Save and close

 

Export Transactions into Excel CSV from A/P Account

 

  1. Locate the A/P account from the list of Chart of Accounts. 
  2. Click the View Register drop-down menu in the "Action" column. 
  3. Press the Run Report option. 

 

 

       4. In the Report period box, choose All Dates

       5. Tap the Export icon, and select Export to Excel

 

 

From there, you'll be able to save these transactions as a CSV file. 

 

Now, let's import the CSV file into the Other Current Liabilities account

 

  1. Go to the Gear (Settings) icon in the top right-hand corner. 
  2. Under the "Tools" column, pick Import Data

 

 

       3. Choose the Chart of Accounts box. 

 

 

       4. Click browse to upload the file into your account. 

       5. Follow the rest of the on-screen instructions. 

 

In the end, you can make the A/P account inactive

 

In addition, here's an article that can give some more information to help you and your business: PPP Payroll Costs for QuickBooks Online Forgiveness Application Report – What You Need to Know (And ...

 

After doing these instructions, you should be able to track your SBA loan correctly. If you run into any trouble along the way, don't hesitate to contact me. I'll always be around to help. Have a great day!

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Level 1

Changing Accounts Payable to Other Current Liabilities

Thank you for your response to my issue.  I am attempting to complete the task by instruction, but I noticed these are instructions for QBO.  Are there any instructions for Quickbooks Desktop?

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Level 1

Changing Accounts Payable to Other Current Liabilities

Thank you for your response.  Are there instructions to do this for Quickbooks Desktop?

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QuickBooks Team

Changing Accounts Payable to Other Current Liabilities

Thanks for joining this thread, @kj34. I'm here to guide you on how you can perform these steps in QuickBooks Desktop. 

 

Here's how:

 

To create a new chart of account: Other Current Liabilities

 

  1. Go to the List menu, then select Chart of Accounts
  2. Click the Account button at the bottom of the window. 
  3. Select New to add a new account, then select Other Account Types and choose Other Current Liability
  4. Click Continue, then use the Account Name box to give your new account a unique name.
  5. Enter in all the required information (Other Current Liabilities), then Save. 

 

To guide through the process of exporting lists and importing transactions, you can use the Export or import Intuit Interchange Format (.IIF). For more insights about this procedure, please check out this article: Export or import Intuit Interchange Format (.IIF) files

 

To make the A/P account inactive in QuickBooks Desktop, refer to the steps in the Hide or delete accounts outlined in this article: Understand the chart of accounts in QuickBooks.

 

I'm always around here to help if you have more concerns about changing the account type in QuickBooks Desktop, @kj34. Take care. 

 

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