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Accounts can be changed, deleted or inactivated easily. In particular, you can change an account's assigned level, which indicates its position in your accounts list hierarchy. The eight header account classifications -- Asset, Liability, Income, Expense, Equity, Cost of Sales, Other Income and Other Expense -- are the only accounts that can be Level 1. All other header accounts must be assigned Level 2 or 3. Detail accounts can be Level 2, 3 or 4.
You can usually change an account's level easily. You can even change header accounts -- except for the eight Level 1 classifications -- to detail accounts. However, keep in mind that any changes you make to a header account will affect the detail accounts 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. Even if an account is inactive, however, you can use it in transactions by entering it manually. Inactive accounts still appear in the Accounts List window. Even if an account is inactive, transactions recorded using the account will affect all of your fiscal records. You can also return an inactive account to active status so that it will appear in selection windows.
Two reports, Accounts List (Summary) and Accounts List (Detail), are available for listing information about your accounts. You may choose to include or omit information about inactive accounts in either of these reports. Use the Report Customization window to unmark or mark Include Inactive Accounts.
You can delete an account from the MYOB AccountEdge system if it meets all of these criteria:
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