How to edit account type of Cash Management Account?

sherina79

After the migration Cash Management account became under Current Liability Section.

How can I transfer it under Current Asset section? Please help!!!

Accepted answers

All comments

klaura

Hi sherina79,

Are you able to edit where the account listed under?

Best regards,

Karren

sherina79

Hi Karen,

Thank you for your response.

No. I cannot edit the sub-account.

Ankit

Hii Sherina

To help with editing the account type:

Unfortunately, in Reckon One, you cannot directly edit the Account Type (such as from Current Liability to Current Asset) for an existing account, including the Cash Management account, after it has been created. However, you can follow this workaround:

Steps to Transfer the Cash Management Account:

Create a New Cash Management Account:
- Go to the Chart of Accounts.
- Click Add Account.
- Create a new Cash Management account, this time selecting Current Asset as the account type.
Transfer Balances:
Once the new account is created, you’ll need to transfer the balance from the old account (the one listed under Current Liability) to the new Current Asset account.
- This can be done by creating a journal entry that:
  - Debits the Current Liability account (to reduce the balance).
  - Credits the newly created Current Asset account (to move the balance).
Reconcile Accounts:
After transferring the balance, reconcile both accounts to ensure the entries are accurate. If this process seems a bit complex or you're unsure about handling the journal entries, MMC Convert can assist with the migration of data or help with any adjustments you need to make to your Reckon One book.

Best regards,

Ankit Mehta

MMC Convert

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