How do I change the account type

I have a savings account which is incorrectly marked as a checking account. Instructions say to "Select the account in the sidebar. Then click menu Accounts > Settings (in the top menu bar). Next to "Type", use the popup menu to change the account type." Does "sidebar" simply mean in the account list column on the very left? If so, I don't see "Account . Settings" ... Please explain the navigation to where I need to go. Sorry for being so ignorant.

Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Those Help instructions are way out of date.
    • In the Accounts bar (usually on the left side of your screen), select the account you want to change.
    • Click the gear at the top right of the account then pick Edit account details.
    • Select the Display Options tab.
    • Under Account intent, Spending will put the account in the top section of the account list and Savings will put it in the second section.
    The Account Intent setting also affects how the account is treated in some reports and planning tools.
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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    In fact, you can't change the account type of savings account once it is created.  To really fix this one would have to create a checking account and move the transactions to there.  On the other hand, like @Jim_Harman pointed out you can change the "intent", which is used will probably make that savings account behave in most cases as if it was a checking account.
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  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    @Chris_QPW, do you know of any inherent differences between accounts that were set up as "Checking" vs "Savings" other than the default Account Intent?

    They both have a Check # column, and for downloading, they don't appear to care what type of account it is at the FI.

    In fact, I just noticed that my only savings account actually has a Type of Checking and I have never noticed any difference.
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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    No, I have never really found any real difference between the Checking and the Savings types.
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  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Re: checking vs Savings account types.
    Some years ago (1980's) the bank where I worked re-distributed their various retail accounts into "Retail Transaction Systems" and "Retail Investment Systems".
    The former checking, Savings and CD accounts almost all paid interest ... but all of the checking accounts and some of the Savings accounts were "transaction oriented", while the other Savings accounts and all of the CD account were allowed few, if any, transactions during term.  The former Savings account system was dismantled.
    Other than what's allowed to happen in these accounts, there's very little that's actually different between checking and savings types.
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