Changing, removing or inactivating accounts

Accounts Overview > Changing, removing or inactivating accounts

Accounts can be easily changed, removed or inactivated. In particular, you can change an account's assigned level, which indicates its location in your accounts' list hierarchy. The eight section header accounts -- Asset, Liability, Income, Expense, Capital, Cost of Sales, Other Income and Other Expense -- are the only accounts that can be Level 1 accounts. All other header accounts can be assigned Levels 2 and 3. Detail accounts can be Level 2, 3 or 4.

In many cases, you can change an account's level quickly. You can even change header accounts -- except for the eight account categories -- to detail accounts. However, keep in mind that any changes you make to a header account will affect the detail accounts that were assigned to it.

You can also easily inactivate accounts that you no longer use. Your list of accounts will be shorter, and selecting the correct account will be easier. If an account is marked inactive, however, you still can use the account in transactions by manually entering the account. Inactive accounts will still appear in the Accounts List window. You can also return the status of the account to active so that it will appear again in the selection windows. No matter what the status of an account -- active or inactive, transactions recorded using the account will still affect all of your financial records.

Two reports, Accounts List (Summary) and Accounts List (Detail), will be displayed and will print account information with or without inactive accounts. Use the Report Customisation window to unmark or mark the Include Inactive Accounts selection.

You can remove an account from the MYOB Accounting Plus system if the account fits the following criteria:

Click below for the step-by-step procedure:

To change an account's basic information

To change a linked account

To change an account's level

To inactivate (or reactivate) an account

To remove an account