diff --git a/hledger-lib/Hledger/Data/AccountName.hs b/hledger-lib/Hledger/Data/AccountName.hs
index 8d157bb4a..3d0663cc6 100644
--- a/hledger-lib/Hledger/Data/AccountName.hs
+++ b/hledger-lib/Hledger/Data/AccountName.hs
@@ -376,5 +376,21 @@ tests_AccountName = testGroup "AccountName" [
     accountNameInferType "revenues"          @?= Just Revenue
     accountNameInferType "revenue"           @?= Just Revenue
     accountNameInferType "income"            @?= Just Revenue
+  ,testCase "joinAccountNames" $ do
+    joinAccountNames "assets" "cash"     @?= "assets:cash"
+    joinAccountNames "assets:cash" "a"   @?= "assets:cash:a"
+    joinAccountNames "assets" "(cash)"   @?= "(assets:cash)"
+    joinAccountNames "assets" "[cash]"   @?= "[assets:cash]"
+    joinAccountNames "(assets)" "cash"   @?= "(assets:cash)"
+    joinAccountNames "" "assets"         @?= "assets"
+    joinAccountNames "assets" ""         @?= "assets"
+  ,testCase "concatAccountNames" $ do
+    concatAccountNames ["assets", "cash"]   @?= "assets:cash"
+    concatAccountNames ["assets:cash", "a"] @?= "assets:cash:a"
+    concatAccountNames ["assets", "(cash)"] @?= "(assets:cash)"
+    concatAccountNames ["assets", "[cash]"] @?= "[assets:cash]"
+    concatAccountNames ["(assets)", "cash"] @?= "(assets:cash)"
+    concatAccountNames ["", "assets"]       @?= ":assets"
+    concatAccountNames ["assets", ""]       @?= "assets:"
  ]
 
diff --git a/hledger-lib/Hledger/Read/JournalReader.hs b/hledger-lib/Hledger/Read/JournalReader.hs
index b55dc7178..753f66969 100644
--- a/hledger-lib/Hledger/Read/JournalReader.hs
+++ b/hledger-lib/Hledger/Read/JournalReader.hs
@@ -433,7 +433,7 @@ addAccountDeclaration (a,cmt,tags,pos) = do
   modify' (\j ->
              let
                decls = jdeclaredaccounts j
-               d     = (a, nullaccountdeclarationinfo{
+               d     = (textUnbracket a, nullaccountdeclarationinfo{
                               adicomment          = cmt
                              ,aditags             = tags
                              ,adideclarationorder = length decls + 1  -- gets renumbered when Journals are finalised or merged
diff --git a/hledger-lib/Hledger/Utils/Text.hs b/hledger-lib/Hledger/Utils/Text.hs
index a91f5433f..aad96d013 100644
--- a/hledger-lib/Hledger/Utils/Text.hs
+++ b/hledger-lib/Hledger/Utils/Text.hs
@@ -53,6 +53,7 @@ where
 
 import Data.Char (digitToInt)
 import Data.Default (def)
+import Data.Maybe (catMaybes)
 import Data.Text (Text)
 import qualified Data.Text as T
 import qualified Data.Text.Lazy as TL
@@ -175,12 +176,17 @@ isDoubleQuoted :: Text -> Bool
 isDoubleQuoted s =
   T.length s >= 2 && T.head s == '"' && T.last s == '"'
 
+-- | Remove all matching pairs of square brackets and parentheses from the text.
 textUnbracket :: Text -> Text
-textUnbracket s
-    | T.null s = s
-    | T.head s == '[' && T.last s == ']' = T.init $ T.tail s
-    | T.head s == '(' && T.last s == ')' = T.init $ T.tail s
-    | otherwise = s
+textUnbracket s = T.drop stripN $ T.dropEnd stripN s
+  where
+    matchBracket :: Char -> Maybe Char
+    matchBracket '(' = Just ')'
+    matchBracket '[' = Just ']'
+    matchBracket _ = Nothing
+
+    expectedClosingBrackets = catMaybes $ takeWhile (/= Nothing) $ matchBracket <$> T.unpack s
+    stripN = length $ takeWhile (uncurry (==)) $ zip expectedClosingBrackets $ reverse $ T.unpack s
 
 -- | Join several multi-line strings as side-by-side rectangular strings of the same height, top-padded.
 -- Treats wide characters as double width.
@@ -271,5 +277,18 @@ tests_Text = testGroup "Text" [
      quoteIfSpaced "mimi's cafe" @?= "\"mimi's cafe\""
      quoteIfSpaced "\"alex\" cafe" @?= "\"\\\"alex\\\" cafe\""
      quoteIfSpaced "le'shan's cafe" @?= "\"le'shan's cafe\""
-     quoteIfSpaced "\"be'any's\" cafe" @?= "\"\\\"be'any's\\\" cafe\""
+     quoteIfSpaced "\"be'any's\" cafe" @?= "\"\\\"be'any's\\\" cafe\"",
+   testCase "textUnbracket" $ do
+     textUnbracket "()" @?= ""
+     textUnbracket "(a)" @?= "a"
+     textUnbracket "(ab)" @?= "ab"
+     textUnbracket "[ab]" @?= "ab"
+     textUnbracket "([ab])" @?= "ab"
+     textUnbracket "(()b)" @?= "()b"
+     textUnbracket "[[]b]" @?= "[]b"
+     textUnbracket "[()b]" @?= "()b"
+     textUnbracket "[([]())]" @?= "[]()"
+     textUnbracket "[([[[()]]])]" @?= ""
+     textUnbracket "[([[[(]]])]" @?= "("
+     textUnbracket "[([[[)]]])]" @?= ")"
   ]
diff --git a/hledger/hledger.m4.md b/hledger/hledger.m4.md
index 899f3cc60..56e8e4d11 100644
--- a/hledger/hledger.m4.md
+++ b/hledger/hledger.m4.md
@@ -1769,6 +1769,12 @@ They are written as the word `account` followed by a hledger-style [account name
 account assets:bank:checking
 ```
 
+Note, however, that account names declared in the account directive are stripped of surrounding brackets and parentheses. 
+The above directive is thus equivalent to this:
+```journal 
+account (assets:bank:checking)
+```
+
 ### Account comments
 
 Text following **two or more spaces** and `;` at the end of an account directive line,
diff --git a/hledger/test/journal/directive-account.test b/hledger/test/journal/directive-account.test
index 154a5e3aa..94abceaeb 100644
--- a/hledger/test/journal/directive-account.test
+++ b/hledger/test/journal/directive-account.test
@@ -68,6 +68,29 @@ account Expenses:Food
 $ hledger -f- accounts
 Expenses:Food
 
+# 5. It unbrackets account names.
+<
+account (a)
+account (a:aa)
+account (a:(aaa))
+account [b]
+account [b:bb]
+account [b:[bbb]]
+account [([c])]
+account [([c:cc])]
+account [([c:[ccc]])]
+
+$ hledger -f- accounts
+a
+a:aa
+a:(aaa)
+b
+b:bb
+b:[bbb]
+c
+c:cc
+c:[ccc]
+
 # TODO
 # a trailing : should give a clear error
 # 2009/1/1
diff --git a/hledger/test/journal/parens-in-account-name.test b/hledger/test/journal/parens-in-account-name.test
index 7480123da..b41a6ad7c 100644
--- a/hledger/test/journal/parens-in-account-name.test
+++ b/hledger/test/journal/parens-in-account-name.test
@@ -1,9 +1,13 @@
+# Tests for parentheses and brackets in account names
+
+# 1. Parentheses in the middle of an account name are ignored.
 hledger -f - print
 <<<
 2009-01-01 x
   a  2
   b (b) b  -1
   c
+
 >>>
 2009-01-01 x
     a                     2
@@ -11,3 +15,19 @@ hledger -f - print
     c
 
 >>>=0
+
+# 2. Nested parentheses are removed and the outer brackets are used as the type.
+hledger -f- print
+<<<
+2023-01-01
+  [([(a)])]  1
+  [(b:bb)]   1
+  [b:[bbb]]
+
+>>>
+2023-01-01
+    [a]                     1
+    [b:bb]                  1
+    [b:[bbb]]
+
+>>>=0