Hello Sanjay
No you can't do that. To maintain the group accs you have to use FSI entity type. Creation of group accs is normally one time activity and you can load the entire data initially.
In future if they want to have group account then they have to create 2 entries - one as FSI and one as ACCOUNT. If you don't maintain FSI then you will not able to view the group account value in ACCOUNT. The tables for both are different.
As I said, its a one time activity normally, go with FSI...
Kiran