Change an existing account type

Question

Hello forum users. How do you change an existing account type from Liability to Loan without losing any data?

Mucets · Answer

Frankx & UKR. Thanks for your responses.

UKR · Answer

If I understand this correctly, you want to change an existing account, currently defined as a generic Liability account to a Mortgage account. An existing account register's Account Type cannot be changed.
In that case, to get proper tracking of the mortgage's principal, interest and escrow payments you need to* create a new "offline" mortgage account (not connected to the mortgage company for transaction downloading). Set this up with the correct number of payments, balance, etc. as of the next monthly payment due.
* when done edit the new account's Opening Balance transaction and change the Category to make it a transfer to/from the Liability account, to zero out the Liability account's balance.

Frankx · Answer

Hi again @Mucets

The "Account Types" that Quicken uses are broad - so there is no "Account type: Loan", all loans are: Type = "Liabilities".

But you can change the account title (the name that you give any account) to whatever you want.  So rather than "ABC Bank Loan" you can call it "ABC Bank Mortgage" if that helps.

Frankx