Skip to main content
M
MaryLou BRCS
June 20, 2024
Question

How do I change an Accounts Receivable Account to an Other Current Asset Account in Quickbooks Online Advanced?

  • June 20, 2024
  • 1 reply
  • 0 views

How do I change an Accounts Receivable Account to an Other Current Asset Account in Quickbooks Online Advanced?

1 reply

C
CamelleT
June 20, 2024

Thanks for dropping by, MaryLou. I appreciate you taking the time to visit the Community forum. I'll shed some light on modifying accounts in QuickBooks Online(QBO) Advanced.

 

First, please note that the Accounts Receivable (AR) and Other Current Assets are completely different balance sheet accounts. Therefore, it's not possible to change them. Still, you can send your feedback about this to our product engineers.

 

In the meantime, a workaround I can share is creating a separate Other Current Assets account. Then, use this moving forward with your task. Here's how:

 

  1. Click the Gear icon and choose Chart of Accounts (COA).



  2. Select the green New button.



  3. Enter an Account name. Then, pick Other Current Assets as an Account type.
  4. Fill in the other required fields.
  5. Hit Save.

 

Additionally, I'd like to know why you want to convert the AR to an Other Current Assets account. This way, I can give further advice or resolution based on your situation.

 

Maintaining accurate financial records is essential in every business operation. By leveraging QBO's user-friendly tools and adhering to best practices, you can ensure that your COA remains a reliable foundation for your company's financial health and success. If you have other questions about managing your COA, please tag me in the comment section.

M
MaryLou BRCSAuthor
June 24, 2024

Thank you Camelle,

In Response to: "Additionally, I'd like to know why you want to convert the AR to an Other Current Assets account. This way, I can give further advice or resolution based on your situation."

The Tuition Software that we use will integrate with QBO Advanced, and post Journal Entries automatically. However, when we attempt this we get an error from the Tuition Software (FACTS): "Multiple GL Accounts assigned as A/R are not allowed." We wanted to change some of our A/R GL Accounts to Other Current Assets to resolve this issue. Any other suggestions are welcomed. Thank you

C
Carneil_C
June 24, 2024

I appreciate your reply, @MaryLou BRCS.

 

I'll route you in the right direction for support to assist you with this issue about changing accounts.

 

Regarding this matter, It's best to reach out to the Tuition Software Customer Support Team. Their representatives can provide information about the best approach to this issue. From there, you'll be able to know the cause of the error you've encountered while doing the process.

 

You can go to their website or page to find their contact details in reaching out to them.

 

Find out more about the default accounts in QuickBooks Online (QBO) by checking out this reference: Manage default and special accounts in your QuickBooks Online chart of accounts.

 

In case you want to remove accounts from the chart of accounts, this article can give you the detailed process: Make an account inactive on your chart of accounts in QuickBooks Online.

 

Please let me know if you have additional questions or concerns about your accounts in QBO. You can reach out to the Community at any time. Take care.

Terms & ConditionsAccessibility statement