Is it better to edit an existing account type (retaining the history of transactions in that account) or is it better to create a new similarly named account?
NPO, finance committee has worked to clean up Chart of Accounts and streamline the budget nesting expenses for a budget line as a subcategory of the revenue line. For example, we previously had fundraising-revenue and fundraising-expense. We have now updated our budget to reflect fundraising-revenue with a subaccount of fundraising expense-revenue in an effort to capture the net in one place instead of split between the two sides of the budget report. Would it be better to edit the existing fundraising-expense account to a revenue account editing the Name to fundraising expenses (keeping the history of all those transactions in the same account), or create a brand new fundraising expenses revenue account? I'm unclear on how this would effect the budget reports from those previous years if we simply edit the account type and want to make sure I don't do something that might create a chain of errors.
