How do I change the account type associated with an account?

To change the account type associated with an account:

• Go to the Accounting module in the left sidebar.
• Switch to Chart of Accounts tab in the modular bar.
• Select the account for which you want to change the account type.
• Click Edit at the top of the account’s details page.
• In the Edit Account pop-up, select the new account type from the dropdown next to the Account Type field.
• Click Save.

You will not be able to change the account type associated with an account if you have created transactions using the account. However, you can mark the account as inactive, create a new account, and associate transactions with this account.

To mark the account as inactive:

• Go to the Accounting module in the left sidebar.
• Switch to Chart of Accounts tab in the modular bar.
• Select the account that you want to mark as inactive.
• Click the More account at the top of the account’s details page and select Mark as Inactive from the dropdown.
• Click Mark as Inactive.

To create a new account:

• Go to the Accounting module in the left sidebar.
• Switch to Chart of Accounts tab in the modular bar.
• Click + New Account on the top right corner of the page.
• In the Create Account pop-up:
• Select the required Account Type.
• Enter the Account Name. Ensure that the new account’s name matches with the name of the account that you marked as inactive.
• Enter the Account Code and Description, if required.
• Click Save.
• Select Other Liability as the account type.

To update the new account in the existing transactions:

• Go to the Accounting module in the left sidebar.
• Switch to Bulk Update tab in the modular bar.
• Click Filter and Bulk Update.
• In the Filter Transactions pop-up:
• Select the account that you want to update in the dropdown next to the Account field.
• Enter other criteria, if required.
• Click Search. The transactions that match the criteria you specified will be listed.
• The following accounts will not be listed in the dropdown:
  • Accounts Receivable
  • Accounts Payable
  • Unearned Revenue
  • Retained Earnings
  • Fixed accounts
  • Inventory Tracked accounts
  • Bank accounts
• Filter transactions whose account is Mortgages.
• Click the checkbox on the left side of a transaction to select it.
• Click Update.

Select the transactions to update their account:

• In the pop-up that appears, click the dropdown next to the New Account field and select the new account you created.
• Click Replace.
• Select Mortgages as the new account.

The account associated with the selected transactions will be updated. This may take some time based on the number of transactions selected.