Change a Balance Sheet General Ledger (GL) accounts to an Income Account

Sage 300 doesn’t allow users to change an account type. Create a new account with the correct type, then transfer the balance from the incorrect account.

Use these steps when a general ledger account uses the wrong account type.

1. Open G/L Setup, Options, then the Posting tab.
2. Select Allow Posting to Previous Years, if unchecked.
3. Create a new G/L account using the correct account type, Income Statement.
4. Create a G/L journal entry to transfer the balance from the incorrect account.
5. In the journal header, set Year/Period to period 12.
6. Select the fiscal year where you want to post the entry.
7. Post the journal entry.
8. Open G/L Accounts, Accounts, and mark the incorrect account as Inactive.

Note: Don’t run Create New Year again. Sage 300 updates retained earnings automatically for prior-year entries.