Edit assigned ledger account

Cost items, proceeds of rent, commissions and products in the cash register are assigned to a general ledger account. Through this general ledger account, financial records are handled in a certain way. How the processing is exactly done depends on the organisation's settings and the general ledger account. These general ledger accounts are often assigned during onboarding, but you may find out later that it is better to change the assigned general ledger account after all. In this article, we explain how to change a general ledger account and what the consequences of this action are.

Changing the general ledger account

You can change an assigned general ledger account. This will post the relevant product to a different/right general ledger account in the future. To change this, first go to 'Ledger accounts', at the top click on 'Assignments'. You then see a list of cost items, payment methods, etc. to which general ledger accounts have been assigned. If desired, you can filter on a particular general ledger account. Click on the expense item or payment method to edit, then choose the desired general ledger account and save the changes.

Consequences of changing the general ledger account

Changing the assigned general ledger account may have consequences on the financial records. When changing the general ledger account for a payment method, all financial data, including those from the past, are adjusted to the new general ledger account. This means that your entire financial administration has to be updated again so that it can synchronise with your accounting package. So this action should be considered well in advance.

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