Is it possible to edit the levels on OBS entries once they are created and financially enabled?
There is very little change that can be done once an OBS/Department is financially enabled. You can change the levels around by editing it in the list view by way of the parent department field.
Lets say you have the following:
Now lets say for our example that you want to change SubDept3 to be level 3 and not level 2.
What you would do is go to SubDept3, and set the parent to SubDept2, which would then make SubDept3 set to Level 3 (in other words, it would be under SubDept2).