New Chart of Account

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Posted on by Community Member Microsoft Employee

I are planning to introduce new chart of account in mid of the financial year. I want to keep old Chart of account also for few days parallel to new chart. Any suggestion or any link which I should refer to make this transition smoothly.

thanks

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mmv 11,465 on at

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RE: New Chart of Account

You are welcome.
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Community Member Microsoft Employee on at

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RE: New Chart of Account

Thanks MMV
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mmv 11,465 on at

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RE: New Chart of Account

1. Account Filter in the Analaysis View.

2. "G/L Account Filter" in the Budget Card.

3. Account Schedules.

I don't foresee anyother area.
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Community Member Microsoft Employee on at

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RE: New Chart of Account

Most of my GL account number will be renamed only. This is good that it automatically changes at all the places. Can you please suggest any other place where I have to manually change it other than Account schedules?

thanks
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mmv 11,465 on at

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RE: New Chart of Account

I prefer to rename the G/L Account No. wherever possible rather then defining new one (when you rename it on the "G/L Account Card", it automatically renames at all the places except few places like Account Schedules etc.).
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Community Member Microsoft Employee on at

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RE: New Chart of Account

Thanks MAV for your response and I will complete all these tasks as suggested.

I am not redefining whole set of account, but changing account code from 5 digits to 6 digits and cancelling/merging few ledger name. I have multiple entities so want to make same set of chart of account for all entities.

Welcome any suggestion

Khushwant
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mmv 11,465 on at

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RE: New Chart of Account

Hi,

You may keep the old chart of accounts in tact. What you to do is to block the old chart of accounts once the new ones are created, so that the users will not use it accidentally.

You need to define the new Account Schedules based on the new set of chart of accounts.

You need to define the new G/L Budget (if you are using the budget).

You have to redo the setup for all the Posting Groups. You need to do a lot of ground work before you could redefine.

Do you want to redefine the whole set of chart of accounts?

Best Regards,

MMV