Do you have any guidance on the best way to revise a chart of accounts or do I need to use a new manager file instance.
I have used Manager for my first year and want to revise my account structure and not sure what is the best way to do it.
I do not want to see old account heading in the new structure and I may also want to move old items into new groups.
Have you read this Chart of Accounts Guide Manager Cloud
You can revise your COA easily by creating new groups, re-allocating accounts to different groups and renaming as required.
Also read this Guide on actual procedures for creating/editing charts of accounts: Manager Cloud.
If you are intending to reallocate old transactions to new or different accounts, that is another matter and could be quite tedious. The most useful tool would be Find & Recode. See this Guide: Manager Cloud. Using that feature, you could search for various income and expense account names, then recode them to something else. But you can only use the feature on bank transactions, not cash transactions, journal entries, etc. Still, you could also drill down from the Summary on various accounts that you want to change (after setting the display period to cover the right time frame) and edit individual transactions.