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Changing Your Chart of Accounts & Account Format

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 gpsupport@bkd.com.

This post was written by:

Cynthia brings more than five years of experience as a project manager for accounting software implementation projects on the BKD Technologies Microsoft Dynamics GP team. She has achieved the Certified Master designation for both Dynamics GP and eEnterprise Application, and she has 25 years of public accounting experience.

8 Responses to “Changing Your Chart of Accounts & Account Format”

  1. avatar Rupi Kaur says:

    If I use account modifier to change the accounts, do I need to make any changes to my current reports in management reports. Will they break? or is there a way to fix in MR?
    Thanks,
    Rupi

    • avatar Cynthia Boersma says:

      You will need to update FRx or Management Reporter manually for the changes made to the chart of accounts.

  2. avatar charbel khoury says:

    how can we acquire Account Changer?

    • avatar Cindy Boersma says:

      Account changer is part of the Professional Services Tool and can be obtained free of charge from your vendor.

  3. avatar CJ Lee says:

    How would you go about adding more segments?
    Even, how would you go about totally revising COA? Can it be done on top of the current GP instance or does it have to be a brand new instance?
    I am new to GP area. So, please execuse my ingorance.
    Thanks.

    • avatar Cindy Boersma says:

      How would you go about adding more segments?
      Even, how would you go about totally revising COA? Can it be done on top of the current GP instance or does it have to be a brand new instance?

      If you go into tools>setup>Fiscal periods, you can add more segments up to the maximum which is defined when you installed the application.
      To revise the chart of accounts, you can use the Professional toolkit – Account Changer/Combiner. This can be done in the existing database but always try on a test database first.

      Cynthia Boersma

  4. avatar Rod says:

    Hi There,

    How does this work for ISV products? For example, we have an ISV product that helps us manage our customer programs. This assigns many default discount related accounts to the customer master.

    When I combine 10 accounts into 1, is the tool going to update the indexes for all of the affected ISV records? My assumption is that all core GP master tables would have their account indexes updated correctly.

    Thanks in advance,
    Rod

    • avatar Cindy Boersma says:

      Hi Rod,
      You will want to check directly with the Third Party product vendor. Particularly if you are planning on using the combiner. I have not seen any issues with the third party products but it’s good to check to be safe.

      Thanks,
      Cindy

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