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New Member
July 20, 2026
Question

change account type from bank to current asset

  • July 20, 2026
  • 1 reply
  • 12 views

My account should be a current asset, as it is an investment account, but is entered as a bank checking account. QB online will not let me change it because it says I have cash or undeposited funds, and to go to the register.  I have looked through the register and all is cleared and reconciled, and there were never any cash or undeposited funds in this account.  How do I change this?

 

1 reply

QuickBooks Team
July 20, 2026

There's no option to change this because this account was set up as a Bank. QuickBooks expects it to handle daily transactions and customer payments. Even if the register has been cleared and reconciled, QuickBooks permanently locks the account type to protect your history.

 

Since QuickBooks won't let you change the type, you need to create a new account and move your money into it. But before doing so, please have your accountant assist you through the process. 

 

First, create a new account.
 

  1. Go to the Gear icon and choose Chart of accounts.
  2. Click New account (top right).
  3. Change the Account Type to Other Current Assets.
  4. Change the Detail Type to Investments.
  5. Name it "Investment Account - NEW" and click Save.
     

Next, create a Journal Entry to move your balance. 
 

Lastly, deactivate the old bank account. 
 

  1. Go back to your Chart of accounts.
  2. Find the old Bank account, click the drop-down next to View register, and pick Make inactive (this hides it).
  3. Find your "Investment Account - NEW", click the arrow, and pick Edit.
  4. Erase the " - NEW" then, click Save.

 

Let us know if you have further questions or concerns.