On occasion, you may want to make changes to an existing account on the chart of accounts list. You can change the account name and description at any time; however, you can only make changes to the account type and detail type if you have not used the account in a transaction. If you have used the account and then realize that you selected the wrong account type, you will not be able to change it.
Instead, you will need to create the account again from scratch with the correct account or detail type. Once the new account has been created, you'll need to transfer the transactions that were coded to the wrong account to the new account. After transferring all of the recorded transactions to the new account, you can inactivate the old account.
You can edit accounts on the chart of accounts list by going through the following steps:
- Click on the Accounting tab located on the left menu bar and select Chart of Accounts, as shown...