It isn't a huge deal to manipulate and alter the chart of accounts for the Charity side of things, but why would they 'change' from a Ltd to a Charity? They could perfectly happily run as dual registered I know ltos that do, it gives some advantages, like if they wanted to trade in future but also admin wise its easier to do that than to deregister as a Ltd and then re-register as a CHarity, for whcih I would guess a whole new set of accounts would need to be set up as they would be treated as 2 different entities.
In terms of the restricted and unrestricted grants it is fairly easy tos et up and manage either usign classes or using Nominal codes, depending on the exact nature of the grants as to which is the best way.
I have just taken on a new client who has traded for 18 months as a Private Limited Company by guarantee without share capital use of 'Limited' exemption, they are a Trust company managing an new estate so there income is rental management fees restricted and restricted and unrestricted grants. They have not done any accounts as yet but need to do the first 18 months soon as there year end has been extended. I have been asked to set them up on QB's but they are changing to a Charity as at the new accounting year.
The problem I have is if I set QB's up as a Ltd company will I then be able to change the status to a Charity and it have the correct chart of accounts? Or will I need to do the first 18 months as a separate company on QB's before transferring the opening balances to the Charity? As they are working as a Trust at the moment the account set up would be the same with the Restricted and unrestricted equity accounts on the B/S
Would be grateful for any advice.