Editing the Chart of Accounts

You can edit most information available in your chart of accounts, including the account name, account number, and business percentage.

Find the account that you want to update.  Once you have found the account, click it to open the account fly out screen.

You can update any information you would like to in this screen.  There are two exceptions:

1. you cannot update the Account Type, and
2. you cannot update opening balances beyond your first fiscal year.

Make sure that all required information is filled out.  Once done, click Save.

From this fly out, you can also delete an account.  To do this, you will click the Delete button at the bottom of the account fly out screen.

You will be asked if you really want to delete the account.  Click Yes, delete account.

There are times when you cannot delete an account.

1. You cannot delete an account that has transactions posted to it at any time, in any year.  This includes if a transaction is posted and reversed.  The audit trail must be preserved.
2. You cannot delete an account that is referenced somewhere else.  For example, you would not be able to delete CPP Expense, since that is used to set up information in the payroll module, even if you don’t use it.
3. You cannot delete mandatory accounts, such as account receivable, accounts payable, or retained earnings.

If you attempt to delete an account that cannot be deleted, you will be told why you cannot delete it.

Last updated on October 21, 2019 by FCC AgExpert