Changing Account Name for Sale Items
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Jonathan Galt
Member Posts: 10 ✭
Moving forward I want to change the name of the one account used till now to sell an item by splitting the items up into Accounts representing the individual manufacturer/suppliers. One account for all of the item sales was okay but it would be better to know how much was from a particular manufacturer. I have now created a new account with seven manufacturer suppliers denoted as sub accounts. All fine but when I go to change the account to which an item tracks I get a warning that this could change the Universe as we know it, and if I wish to proceed, do I want it to apply to all previous transactions for that item and what is the start date.
Not being an accountant I don't fully comprehend the ramifications of this and how it may affect everything else. Could I leave the history alone and maybe just start fresh from the quarter?
Not being an accountant I don't fully comprehend the ramifications of this and how it may affect everything else. Could I leave the history alone and maybe just start fresh from the quarter?
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Comments
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What it means is that if you amend a previous transaction, the psting may change for that transaction in the past. Lets say you change a transaction in July 2015, the account number you previously used may be changed to the new account no,.That is what it means. You can change a account no but previous transactions if changed in any other way may have the old account no changed to the new one.That is the only problem otherwise go ahead with yiour changes, I would suggest that if you change your sales accounts you should change your cost of sales account to match so that you can see your gross margin for your Sales and cost of sales though you may have to drop the data into Excell to calculate it.0
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