Our company type was set up incorrectly. How do I change the chart of accounts to agree with the type of company it is?

Welcome to the Community, @egoodrich. Let me assist you in setting your company type correctly in QuickBooks Online (QBO).

When you create a QBO account, the chart of accounts is automatically tailored to the company type selected during setup. If necessary, you can update the business type in Account and settings to ensure your chart of accounts aligns with your company structure.

For expert advice on handling entries, it’s best to consult an accountant. If you don’t have one, our Find an Accountant tool can connect you with a ProAdvisor near you who can provide technical and accounting support.

Here’s how to change your business type:

1. Go to the Gear icon, then select Account and settings.
2. Navigate to the Company tab.
3. Under the Legal info section, locate the Business type field.
4. Click Edit, choose the appropriate company type, and Save your changes.
5. Select Done to finalize the update.

If you have further QuickBooks-related questions, feel free to Reply below.