Change my Chart of Nominal Accounts


I have previously setup some new codes to track various sales. I now find these codes are ineffective and I want to set new codes and transfer the existing sales inputs to these new codes. Is this possible?



You have two options here:

  1. Create the new codes and journal any balances from the old codes to the new codes.

  2. Modify any invoices that are posting to the old codes and instead post those items to the new codes. After all transactions are removed from the old codes the nominal account can be deleted.

OK, #2 sounds quite straight forward. Making these changes won’t mess up any of the previous ‘tagging’?



It will change the balances on your nominal ledger but it won’t change any entries in your bank if all you’re doing is updating the nominal codes your invoices are posting to.

Thanks Glenn. That sound like the solution for me.

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