We set up an account to be 3035: casing as an intangible completion cost. I want to change the account to 4035, a tangible completion cost. How will this impact prior AFEs?

It will change all previous records to be the new number and they will be tangible completion costs.

If you do not want the old ones to be recorded this way you can leave it as is and create a new expense category with the 4035 code, which will not change old records.

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