Organization type

thomssi

It appears organization type cannot be changed.

I did see a previous discussion on this, difference I can see is in the capital accounts. The advice I saw would be to start another company. Would I be correct in assuming that nothing is going to "blow up" if I just add some different equity accounts and manually journal a few things instead and that there are no real fundamental differences other than that?

Thanks

Alexia

You are absolutely right, @thomssi.

There won't be any consequences. The only difference between "Types of organizations" is the default Chart of Accounts. If you're willing to add the accounts your missing by hand, you won't run into any issues.