Changing Account Codes

Once a code is entered you can continue to change its details until a balance is posted to it. You will still be able to change the account code after it contains a balance but you will be warned of the potential consequences. You might have to re-print all your financial statements as well as modify your financial report 'style sheets' if you change an account code number. Generally, you should avoid changing account codes if you have been posting amounts to them for several periods. A better approach may be to leave the old code, but specify it as "locked" (more on this below) and create a new code. You could then enter a journal to transfer the balance of one to the other.

This is a common-sense point but an important one: if you must change account codes that have already been posted to, set out a particular time to do so. Do your postings for the period, then do your account code changes. Otherwise you may find yourself spending a sizable amount of time editing batches. Remember also: the audit trail will still list the original account codes. This is why it is better to gradually phase out incorrect, but used, account codes, rather than change them.

Account Types

Once the account type to one of similar type, for example, "posting", "control", "opening stock", "bank" has a balance you will be limited in changing its account type. You may only change the account type to one of similar type. For example, "posting", "control", "opening stock" and "closing stock" and "bank' all hold balances. "Heading" accounts don't. Account types that hold balances can only be changed to other types that also hold balances. Heading accounts can't be changed to balance accounts once they have been entered in the system. However, you may delete the Heading account and re-enter it if you wish.