QB Issue Resolution:

When modifying the transaction type, you’ll need to switch the radio button from Transfer to Add to see the Select Category box. From there, click on the drop-down and choose the correct Expense type where you want to post the transaction.

 

I’ve outlined this process below for you to be guided:

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Also, to give you more insights about the procedure, please refer to these articles:

That should guide you in changing your categorized asset to an expense.

Resolution for Issue 'Can I change a “transferred from uncategorized asset ” to an expense?' available: Yes (Solved).
Source: Intuit Community forum.

Can I change a “transferred from uncategorized asset ” to an expense?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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