what is the impact and risk associated with inactivating a GL account?

AI generated answer (using internal Slack threads):

Inactivating a GL account in NetSuite can have several impacts and associated risks. Impact: 1. Prevents New Transactions: Once a GL account is inactivated, it prevents the creation of new transactions with that account. However, it's important to note that existing transactions can still be copied, which can bypass this restriction. 2. Existing Transactions Remain Unaffected: Inactivating a GL account does not affect existing transactions. They remain as they are and can still be viewed or reported on. 3. Reassignment of GL Account: If you need to reassign the GL account of an item, you may face difficulties, especially if transactions exist over closed periods. Only the asset account and COGS can be modified and allow the GL Impact to be readjusted. Risks: 1. Data Integrity: There's a risk of data integrity issues, as inactivating a GL account does not prevent posting to it. This can lead to inconsistencies in your financial data. 2. Inconsistencies in Reporting: Since existing transactions are not affected, this could lead to inconsistencies in financial reporting, as the inactivated account will still appear in historical reports. 3. Operational Disruptions: If the GL account is inactivated accidentally or without proper planning, it could disrupt operations, especially if the account was in use. To mitigate these risks, it's recommended to thoroughly review the implications of inactivating a GL account before proceeding. Also, consider adding a custom date-driven field for handling it. For example, transactions created/dated before this date can be edited even with this account - but if any accounts on the JE are inactive, and someone tries to use it, return an error. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******