I have a question regarding the bank accounts feature. At the moment I have 2 accounts listed (one being a traditional bank account and the other a credit card utilised for business related purchases) and I would like to remove the credit card account from the system.
Now, before I go ahead and make any changes that may cause a problem, I would like to know what happens to the records that were previously entered against this bank account? There are many records within the system and I need them to remain however ideally I would like to reclassify them as an ‘Expense Claim’ if possible, otherwise what other options do i have?
Manager does not allow you to delete any account which have transactions related to them.
Like many other accounts, a bank account can be set as inactive.
read this guide Manager Guides
There is no way to do this except to manually enter expense claims and then delete the corresponding bank transactions. The result will be liabilities in either Expense claims, Employee clearing account, or a capital account, depending on your organizational structure, chart of accounts design, and setup of expense claims payers. These liabilities for past transactions will have to be cleared, either by payment or journal adjustment, again depending on account structure. Prior accounting period records and reports would change.
If you are not going to be using the credit card for business purposes any longer, making it inactive is a much easier approach.