How do I create a new chart of accounts and migrate the old records to the new chart of accounts?

Warm greetings, finance-theherit. I'm here to ensure you can create a new chart of accounts. 

Please know there's no direct option to migrate old records or data from the past chart of accounts to the new one. However, you can merge the two accounts by manually updating the old account information. This way, the transactions will migrate to the current one. 

To create a new chart of accounts:

1. Hover to the Transactions and select Chart of accounts.
2. Select New.
3. Select the appropriate account type from the Account Type dropdown menu.
4. Select the proper Detail Type from the dropdown menu.
5. Fill in all remaining fields and select Save and Close. 

On the other hand, instead of manually entering your accounts, you can import a spreadsheet of custom or existing accounts from another QuickBooks Online or Desktop company file. 

Refer to this article for more detailed information and guidance: Import your Chart of accounts to QuickBooks Online. 

After you import or create a new chart of accounts, you need to locate the old one and edit its account's name, type, and detail type. This way, the old records or transactions will migrate by manually merging the two accounts. To ensure the accuracy of your financial records, including the proper recording of transactions, I recommend consulting your accounting.

See the attached screenshot for visual reference.
 

Moreover, you can create subaccounts in QuickBooks Online. It helps organise your chart of accounts and generate more detailed reports.

You can always return here whenever you need assistance and clarifications concerning creating a chart of accounts or any QuickBooks-related concerns you may have. Just tap the reply button below to enter your queries. 

@finance-theherit 

You should signup for a new QBO account and use the new CoA. Then purchase a 3rd party migration service and ask them to remap the CoA as the requirement. Otherwise, you need to use a migration tool.

https://get.transactionpro.com/qbo