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Wrong GL account setup

  • 31 May 2024
  • 5 replies
  • 60 views

Hi,

I find the setup of an GL account in my company book is wrong in Acumatica. It was setup by my predecessor as asset, but it should be a liability item. As a result, the balance sheet is not balanced. I only find out now as I use the trial balance only in the past few months. I try to change the type in chart of account but an error message pop up. It said “You cannot change the selected GL Account type because transactions for the GL Account already exist”.

Please advise how to resolve the issue. Thanks!

Raymond

Hello @Rmak0501 ,

We can change account types. For details please view this post answered by me last year:

 

Laura

Hi Laura,

I try that. But an error message comes up. It said “Some transactions that match the specified selection criteria cannot be reclassified. These transactions will not be loaded.”

Thanks!

Raymond

Hi Laura,

i change the account class for the GL account. It solves my problem.

Thanks

Raymond

Hi Lauran,

Sorry, it doesn’t solve my problem. And I can’t reclass the account.

Raymond

Hello, not all transactions may be reclassified, such as those that have already been reclassified. If you can’t reclassify the transactions in the ‘bad’ account, you can use a journal entry in each month to move the balance of the account from the old account to the new account and then proceed with the instructions. 

Laura

 

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