I created an extra “equity” account a while back to track purchases that I make from my personal funds on behalf of my wife’s sole trader catering business. We treat it like an informal loan which will be paid back once the business turns a profit, so on reflection it would make more sense for it to appear in Quickfile as a loan account rather than equity.
However, when I try to “modify” the account it won’t let me change the account’s type, only its name. Is it possible to change this, or would it make more sense to leave it as an equity account and just consolidate the balance into a separate loan account at year end?