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Invalid Mixing of Accounts Type

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Posted on by SL_GP_BC_123

987

I have a site that inadvertently created a GL account "32175" as an income account type instead of a liability. As a result they are unable to add additional liability accounts above that number. Further compounding the issue a Journal was posted against the account leaving an audit trail. Is there a creative way to back out that journal and change the account to a liability? Please advise. Look forward to a reply.

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MARC_ 626 on at

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I would do a reversing GL entry to zero it out; then use Keychange or Professional Tools (depending on what they have) to change the number to fit into the proper income area in their COA structure; set it to inactive.

Then create a new 32175 as a liability.

Marc

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SL_GP_BC_123 987 on at

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Appreciate all the feedback. Turns out the client had access to keychange, so we were able to do a quick fix by changing and reclassing the account.

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