There are several reasons why you might want to modify your chart of accounts in Microsoft Dynamics GP. The main reason is to better suit your business needs. For example, you may want to add another segment to your chart of accounts, combine segments, delete a segment, or align chart of accounts across entities.

We recently completed a project for one of our clients who wanted to delete two segments, change the order of the existing segments, and add a new segment. After mapping out the old account numbers to the new account numbers, we used Microsoft’s free tool – PSTL (Professional Services Tools Library), to make the necessary changes in a test company. Once the client approved the revised chart of accounts, we copied the Management Reporter report definitions to begin modifying the row definitions for the new accounts.  This also gave us an opportunity to add new categories in GP and use categories in Management Reporter vs. Accounts.  Upon completion in the production company, the CFO and the accounting team were very pleased with the results. GP even changed all transaction history to reflect the new accounts. All GP setups that contain posting accounts automatically changed to the new modified accounts. If your business has outgrown your current chart of accounts, please contact us today.