Can you edit the Chart of Accounts that has transactions when the client set assets up as long term assets and they need to be changed to Property and Equipment??

Yes, we can edit the chart of accounts in QuickBooks Online (QBO), @office338. Since this involves changing the accounting type, it's recommended to consult with a qualified accounting professional.

It is to ensure that the accounts align with accounting standards and that you receive proper guidance on structuring them to track costs and depreciation using the appropriate methods accurately.

Once you and your accountant have finalized the changes, you can follow these steps to edit your account:

1. Go to Accounting and select Chart of Accounts.
2. Locate the account you'd like to edit.
3. Click the dropdown arrow next to Account History or Run Report (depending on the account).
4. Select Edit.
5. Make all desired changes, and then select Save and Close.

Feel free to reach out if you need help managing accounts in QuickBooks. The community is here to help 24/7.