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Chart of Account - Ability to change bank a different account type

Ability to change a bank account to a different account type. e.g. A bank account that should be an equity type was added as a bank. To resolve this requires adding a new equity account type, transfer the bank account balance and archiving the old account. These could be avoided if we are able to change the account type in the COA.

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Juliann Simeona shared this idea  ·   ·  Report…  ·  Admin →
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  • Rachel Barker commented  ·   ·  Report

    We also need to be able to change the account type for the credit cards. This is confusing for audit purposes.

  • Analytix Solutions commented  ·   ·  Report

    How to change the account type from Bank (Whose Bank feed is connected) to current liability?

  • Robert White commented  ·   ·  Report

    I agree too! My mortgage is a Bank Account and is reporting as a Current Asset! Obviously a long term liability.

    This means my ODBC link with Odata cannot arrange/sum the information correctly.

  • Hadyn Eade commented  ·   ·  Report

    Agree my business loan bank account is sitting under asset and should be under liability!
    This means the integration with LivePLan is pointless, as it wont pull through debt in the reporting

  • Matthew Szczepaniak commented  ·   ·  Report

    I have come up to the same problem. The bank account is only listed as a bank account, and a credit card is deemed a liability. It was be advanteagous for this to be changed to an account type so we can categorise this in our B/S.

  • Winnie Yau commented  ·   ·  Report

    I'm hoping that bank account type could change to current assets, so it can keep the transactions. Xero can restrict certain user to make the change, e.g. accountant/bookkeeper able to do so.