To change or update an account in QuickBooks Desktop for Windows, you will need to access your Chart of Accounts and modify the specific account details. This process allows you to update information such as an account's name, number, or description.
Editing an Account in QuickBooks Desktop for Windows
The process for modifying an existing account in QuickBooks Desktop is straightforward and involves a few key steps within the Chart of Accounts.
Here's how to edit an account:
- Access the Chart of Accounts: Go to the Lists menu at the top of your QuickBooks Desktop screen, then select Chart of Accounts. This will open a window displaying all your active and inactive accounts.
- Select the Account to Edit: In the Chart of Accounts window, locate the account you wish to change. Right-click on that specific account.
- Initiate Edit: From the right-click context menu, select Edit Account. This action will open a new window where you can modify the account's details.
- Update Account Details: In the edit window, you can now update various aspects of the account. This might include:
- Account Name: Changing the name to better reflect its purpose.
- Account Number: Assigning or modifying an account number for organizational purposes.
- Description: Adding or updating a description for clarity.
- Bank Account Number (for bank accounts): Updating associated banking information.
- Tax-line mapping: Adjusting how the account maps to tax forms.
- Save Your Changes: Once you have made all the necessary updates, select Save & Close to apply your changes and return to the Chart of Accounts.
What Account Details Can You Change?
When editing an account in QuickBooks Desktop, you have the flexibility to adjust several key details that help categorize and organize your financial data.
| Account Detail | Description |
|---|---|
| Account Name | You can rename the account to provide more accurate or clearer identification in your financial reports and transactions. |
| Account Number | If you use account numbers for a more structured chart of accounts, you can assign or change the number associated with the account. |
| Account Type | While you can sometimes change an account's type (e.g., from Bank to Other Current Asset), this is often restricted if transactions have already been posted to the account, as it can significantly impact financial statements. |
| Description | Add or modify a detailed description to provide more context about the account's purpose or specific uses. |
| Bank Account No. | For bank accounts, you can update the associated bank account number, though this generally does not affect how QuickBooks tracks the balance. |
Important Considerations
- Impact on Financial Reports: Changing account names or types can affect how your financial reports (like the Profit & Loss or Balance Sheet) are presented. Ensure your changes accurately reflect your accounting needs.
- Consult an Accountant: If you're unsure about changing account types, especially after transactions have been recorded, it's always advisable to consult with an accountant or a QuickBooks ProAdvisor. Incorrect changes can lead to miscategorized data and inaccurate financial statements.
For More Information
For comprehensive guidance on managing your Chart of Accounts, including adding or deleting accounts, you can refer to additional resources available on Intuit's official support pages.
