Changing component values in general ledger accounts

To adapt to business changes, you can change the description of a general ledger component value. You can also activate and deactivate components that are used in general ledger accounts.

About this task

If you change the status of a component value to inactive, all general ledger accounts that use that component inherit that status. The Expiration Date field for the associated general ledger account on the main Chart of Accounts window is set to the current date and time. The Expiration Date field is set to the current date and time only if the field was previously set to a future date, or if the field was left blank. If the field was set to a date in the past, that value is restored.

When you reactivate an account component, you reactivate the general ledger accounts that use the component. Additionally, the Active Date field on the main Chart of Accounts window is set to the current date and time if the Active Date previously specified was in the future. If the Active Date field was set to a date in the past, that value is restored.

The Expiration Date field displays the expiration date that was previously specified if the date set is in the future. If the expiration date previously specified is in the past, that value is restored. If an expiration date was not specified, the Expiration Date field is left blank.

Procedure

  1. In the Chart of Accounts application, select the organization for which you want to change a component value.
  2. Select the GL Component Maintenance action.
  3. In the GL Component Maintenance window, click View Details for the component value that you want to change.
  4. To change the component value, perform one of the following actions:
    • Change the description.
    • Change the active status of the component value in the Active check box. If you activate a component value that was previously deactivated, the Activate GL Accounts window displays. Click the Activate Accounts check box for the component that you are reactivating, then click OK.
    • Change additional information.
  5. Click OK.