Chart of account - change account from Balance sheet to Inco

eemm3

Is it possible to change an existing G/L account from "Balance" to "Income" statement?
If yes, what is to be bear in mind?
Thanks in advance!

thassoc

As far as I'm aware, the only 'effect' of changing an account from Balance Sheet to Income Statement is that only Income Statement Accounts are included in the 'Close Year' process which creates a journal which 0s the Income Statement accounts and provides a net figure to post to Reserves.

I think (haven't looked at the code) that it's likely that if you change to Income Statement, the total of the Account will be included in the calculation and not just the transactions for the Year you are closing.

But as always, I'd test it out and see.

Richard

ssingla

There is no secret code you can change the type but be careful about the grouping.