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tomas___
Level 1

Can I rename accounts in CoA but keep the old names in older reports (locked books). How does it work?

Hello.

A newbie question:

I want to lock 2019 books first and then rename a few accounts in Chart of Accounts to go with in 2020.

Will such account name changes have any impact on 2019 reports?

I know it won't change any figures but I want the 2019 reports to show accounts with the "old names".

How does it work?

Thanks

Solved
Best answer June 05, 2020

Best Answers
ShiellaGraceA
QuickBooks Team

Can I rename accounts in CoA but keep the old names in older reports (locked books). How does it work?

Hi @tomas___,

 

When you change your account name, it'll also change in your closed book. You'll want to create a sub-account as a work around. Let me walk you through the steps.

 

  1. Go to Accounting, then Chart of Accounts.
  2. Select New, then enter the account details.
  3. Mark the Is sub-account box, and choose the parent account.
  4. Click Save and Close.

With these steps, you'll be able to keep the old account name in your reports. You can learn about closing books and creating sub-account at these links here:

 

I've also added our page about reports and accounting that I'm sure you'll find helpful. It contains related articles related to the accounting process and reports.

 

That'll do it. Let us know if you have other questions or concerns. We're always here to lend a hand. Thanks for posting and I wish you have a lovely day ahead.

View solution in original post

3 Comments
ShiellaGraceA
QuickBooks Team

Can I rename accounts in CoA but keep the old names in older reports (locked books). How does it work?

Hi @tomas___,

 

When you change your account name, it'll also change in your closed book. You'll want to create a sub-account as a work around. Let me walk you through the steps.

 

  1. Go to Accounting, then Chart of Accounts.
  2. Select New, then enter the account details.
  3. Mark the Is sub-account box, and choose the parent account.
  4. Click Save and Close.

With these steps, you'll be able to keep the old account name in your reports. You can learn about closing books and creating sub-account at these links here:

 

I've also added our page about reports and accounting that I'm sure you'll find helpful. It contains related articles related to the accounting process and reports.

 

That'll do it. Let us know if you have other questions or concerns. We're always here to lend a hand. Thanks for posting and I wish you have a lovely day ahead.

View solution in original post

PGH1943
Level 1

Can I rename accounts in CoA but keep the old names in older reports (locked books). How does it work?

FOLLOW UP QUESTION:  If I rename accounts and reorganize (and renumber) accounts in Chart of Accounts, what will be the affect on past (locked) budgets?  It looks to me as though the changes I make to chart of accounts now will result in the same changes being made to past budgets (back to at least 2017).

 

Is that correct?

 

PH

KlentB
QuickBooks Team

Can I rename accounts in CoA but keep the old names in older reports (locked books). How does it work?

I can share some information about how account numbers work, PH.

 

You're absolutely correct. When you change the current numbering of your current accounts, the account numbers on your past budgets will be also modified.

 

Additionally, here are some articles that you can read to help keep your Chart of Accounts more organized:
 

Don't hesitate to leave a comment below if you have any other concerns or additional questions. I'll be right here to keep helping.

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