[GNC] Deleting an account

[R Losey]

For old, unused accounts, say closed credit cards, I created a placeholder
in Credit Cards called "ZZZ_closed" and then edit the closed credit card to
make it's parent directory ZZZ_closed. That way, I keep all of the
transactions, but it isn't in the current list.

Hiding sounds better, as long as there is some way to get at it after it is
hidden.


On Sat, Apr 15, 2023 at 2:27 AM G R Hewitt <hewittgr at gmail.com> wrote:

> I agree with Michael on this, deleting accounts has a knock on effect that
> isn't always apparent.
> In one firm I worked for, the GM took it upon himself to delete a load of
> customer accounts that were at zero when I was away.
> This was Sage Line 50, it totally screwed the accounts but was not apparent
> at the time.
> Deleting the accounts is akin to tearing the pages out of a journal; best
> to 'hide' them as suggested.
>
>
> On Fri, 14 Apr 2023 at 23:32, Michael or Penny Novack <
> stepbystepfarm at comcast.net> wrote:
>
> > On 4/14/2023 4:51 PM, Gyle McCollam wrote:
> > > I have a fixed asset account for an automobile with subaccounts for the
> > purchase cost and depreciation.  I am selling this car and purchasing a
> new
> > car. How do I delete the old car from my COA without messing up the
> > financials as there have been debits and credits to the 2 subaccounts.
> The
> > parent account at this point has a zero balance as the vehicle is fully
> > depreciated.
> > >
> > You don't delete it (it would indeed mess up all those transactions)
> >
> > It's no longer needed, balance is zero, just HIDE it. Do note that if
> > you dispose of this fully depreciated asset for a gain, you will have a
> > capital gain to record that transaction << but that wouldn't involve
> > this account >>
> >
> >
> > Michael D Novack
> >
> >
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-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8