Does your chart of accounts no longer fit your company’s reporting objectives? Did you inherit a chart of accounts that doesn’t suit your needs? Are you tired of entering zeros into a segment that you really don’t need?
You have the ability to change the accounts or remove unwanted segments and digits in your accounts.
Example: Your current chart of accounts has four segments, but you’d like to have a new chart of accounts with only three segments.
Changing Your Chart of Accounts
The answer to all of the above questions starts with a professional tool known as the Account Changer. With Account Changer, you can change previous account numbers into new numbers or combine existing accounts.
There are three ways to change accounts, all of which use the same screen.
1. To change by account: Enter the old account number in the Account Number field, enter the new account number in the Convert to Account Number field and choose “Convert.”
2. To change a range of accounts: Select the range of accounts to be changed and identify what segment of the account structure will change from the Field Type drop down list. After the account segment is identified, enter the new segment value and choose “Convert.”
Hint: Combines can’t be done when using the “Range Convert” option. If you require combines for many accounts, use the Import option.
3. To combine or change accounts from a spreadsheet: Create a spreadsheet with two columns – the first column is the old account number and the second is the new account number. Save your spreadsheet to a text file. Choose “Import” in the “Select By” field. Two new buttons, “Validate” and “Modify,” are available. The “Validate” button will verify each current account number exists in your system before conversion. Once there are no errors on the validation report, choose “Modify” and select your validated text spreadsheet to change or combine accounts.
When the process is completed, you will need to run reconcile.
Removing Unwanted Segments
Now that you’ve changed your accounts, you might not be using some segments or some digits in one or more segments. Once you’ve changed the accounts, you can remove unwanted segments or digits. The reconcile function described below will remove any segments or digits that contain blanks.
Tools | Utilities | System | Reconcile
Select “Account Format Setup,” then click “Insert” and “Reconcile.”
Check your Account Format to ensure it is correct.
For more information about changing your accounts, contact our support center at firstname.lastname@example.org.