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Changing Chart of Accounts For An Existing Entity

  • 1.  Changing Chart of Accounts For An Existing Entity

    Posted 18 days ago
    Hi All,

    We have an entity which had a different account structure when we brought it into Dynamics 365 and Finance and Operations Online from our other entities (i.e. five entities share one chart of accounts, and a new chart of accounts was created when we put in this new entity).  After a couple years, we now realize we should be using the same chart of accounts for all of our entities, and want to change the chart of accounts for the one not using the shared chart.

    Does anyone know the easiest way to move an existing entity onto a different chart of accounts than it was set up with? We've mapped in excel what the account should be in the shared chart of accounts, but not sure what the next steps are to change in the system.

    Let me know if you need any additional details, thanks in advance for any help on this!

    Thanks,
    Laura

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    Laura McCallum
    Skyline Renewables
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    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


  • 2.  RE: Changing Chart of Accounts For An Existing Entity

    TOP CONTRIBUTOR
    Posted 18 days ago
    Bottom line: you cannot change chart of accounts in a company once you have posted transactions (which sort of makes since, as that would mess up all your historical information).

    2 options I can think about:
    1. If the mapping old CoA > new CoA is exactly 1:1 (1 account in old CoA is 1 account in new CoA), you can renumber the accounts in the old CoA to be the same in the new CoA.
    This however means you will lose the ability to look at previous fiscal years using the old CoA.

    2. If mapping is more involved (for example, several accounts in the old CoA map into a single account in the new CoA), or if it is important to keep "historical transactions" with the old CoA, you would need to create a new company in D365, configure it with the new CoA, and effectively "migrate" from the old company to the new company.

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    Zvika Rimalt
    Functional Consultant
    Vancouver BC
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    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


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