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Changing an account type

edited Jan 26, 2016 9:15PM in Accounting / ERP 1 comment

Is there a way to edit an account in order to change the account type?  We have a reserve for returns setup as a contra-receivable (account type-A/R), and we'd like to reclass it to be a liability... can we change the account type, or do we need to create a new liability account, book a journal entry to reclass our balances, and then inactivate the A/R account?

Thanks,
Frank

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