I've got to say; this is a huge step backawards. A heirarchial chart of account is a very common requirement. I just don't understand why it would be removed. Now everyone that needs it is going to have to figure out a workaround; many of which you can be sure will be nasty Excel solutions. The idea of ERP is to reduce the need to do things "off-system".

The second answer discusses how to show reports using a Chart hierarchy. It was removed, but the ability to show it on reports has been provided for those who want it. There is no workaround needed if you customize the reports to total child accounts to match your hierarchy.