The business type you chose when you created your Wave account was used for initial setup, but it doesn't impact what you can and can't do in Wave.

Choosing a business type is a one-time decision that you make when you create your Wave account (and for additional business you add). Wave uses this information during the setup process only to determine which income and expense accounts (your Chart of Accounts) to automatically create for your business. Once your account is created, the business type can't be changed – but don't worry, you don't need to!

If the reason you wanted to change your business type was to update your list of available income and expense accounts, you can certainly add or delete income or expense accounts at any time.  

Here's how:

To create new accounts & categories

  1. Click Accounting in the menu at the left of your screen and select Chart of Accounts.
  2. Click Add a New Account.
  3. Browse through the tabs for the account or category you need.
  4. You can also search by name. When you find what you need, click the name.
  5. Set the account name.
  6. Click Save.

You're done!