Change BS liability account into Special Account?

[Andrew_Vanis]

searched for this and closest I found was this which didn’t get a reply Ideas - Convert Standard Account to Subledger of Special Account

Is it possible to start the accounts as standard accounts and then update them to Special Accounts by under a Control Account?

Setting up a chart of accounts for an existing business (bringing over form QB). Previously each property mortgage had its own liability account so a consistent transition period would be nice but it seems like a great application for Special Accounts.

I am considering using special accounts for the mortgages to have a cleaner totaling financial report and then if needed running a report by Division since everything is tracked by property/(each property is a separate Division in Manager)

Thoughts?

[lubos]

There is no easy way to do the conversion. My idea (for the future) is to implement Find & Recode across all the tabs. This way you could change the account for many transactions at once.

Also, keep in mind, you can still achieve cleaner financial statements even if you have many accounts directly in chart of accounts. When generating a report, there is Group to Collapse field which can present the entire group within chart of accounts as single line on balance sheet.

[Andrew_Vanis]

@lubos

achieve cleaner financial statements even if you have many accounts directly in chart of accounts. When generating a report, there is Group to Collapse field which can present the entire group within chart of accounts as single line on balance sheet.

Great suggestion. Thanks.