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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Patrick Sun
commented
This is quite frustrating in practice.
Right now, the account type can’t be changed while a bank feed is connected. But if you disconnect the feed, there’s then a delay (several days) before the bank actually releases the connection. During that time, you can’t reconnect because Xero requires selecting a “new” account that hasn’t been linked before — while the bank still considers it connected.
So you end up stuck:
Can’t change the account type without disconnecting
Can’t reconnect until the bank catches upIs there a reason the account type is locked when a feed is active? It would really help if this workflow was improved or if there were a way to avoid this deadlock.
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Rachel Barker
commented
We also need to be able to change the account type for the credit cards. This is confusing for audit purposes.
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Analytix Solutions
commented
How to change the account type from Bank (Whose Bank feed is connected) to current liability?
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Robert White
commented
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.
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Hadyn Eade
commented
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
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Matthew Szczepaniak
commented
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.
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Winnie Yau
commented
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.