adding account segment

Joseph Dahlbacka
Joseph Dahlbacka
Third Anniversary Kudos 1 Name Dropper Facilitator 1
in Blackbaud Financial Edge NXT® General Discussions

We are looking to add an additional segment to our account structure. From what I understand this would cause use to need to create a new chart of accounts since we have activity in this fiscal year. Is there a best practice on how and when to change the account structure?

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  • Kevin Brazell
    Kevin Brazell Blackbaud Employee
    Tenth Anniversary Kudos 5 First Reply Name Dropper

    @Joseph Dahlbacka adding a new segment, adds that segment to all your existing accounts. so any balances or activity is still in the original ones with a default segment value. But if you add new segment options and make new accounts then you'd have to journalize that over. Plus depending on your VCO setups for financial statements, you may need to check if those are pulling the correct accounts. If unsure of all your needs I'd highly recommend talking with an FE Consultant first in more depth as once you add the segment you can't remove it. I'd discuss the thoughts behind the need , see if there are alternatives that would work , or if adding the segment is the correct course of action and make a plan with the consultant. Measure twice and cut once.

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