Creatted GL Incorrectly

[Former Member]

Hi All,

I have created Share capital account and posted some transactions and now i have realized share capital account created as Profit and loss account.

Kindly let me know the procedure to change share capital account to Balance sheet account, if

Best Regards.....Boppana

[Former Member]

Hi

u can create a new g/l account with the same parameters and transfer the balance from old one to the new one and make sure that u have selected the balance sheet a/c and then block the old one

[Former Member]

Hi All,

Thanks for response.

[Former Member]

There is no way you can change this settings now as postings have already taken place. Way out would be to create a correct GL account and transfer the balances to the new GL account and block the old GL account.

[narasimhulu_konnipati]

As the transactions have been already posted, now we can' change the account type to Balance sheet.

The solution is, create a new GL account with same features by selecting as "Balance sheet" account and transfer the balances to new GL.

Then block the old GL

Thanks