Trade Payable Accounts Consolidation

We need to consolidated a large number of AP trade payable accounts to a few accounts. We are planning like this.

• Map current and new account for all the suppliers
• Either revise all G/L class for all the suppliers and corresponding PCxxxx AAIs ( or just map current G/L classes to new accounts).
• Use JE to move balance from current account to new account.

Is there any better way to do this ?

Also after this practice, how we can generate supplier balance for previous months as the the balance will be in old accounts.