diff --git a/hledger/Hledger/Cli/Accounts.hs b/hledger/Hledger/Cli/Accounts.hs
index 134ae7189..5c5a48358 100644
--- a/hledger/Hledger/Cli/Accounts.hs
+++ b/hledger/Hledger/Cli/Accounts.hs
@@ -56,7 +56,7 @@ accounts CliOpts{reportopts_=ropts} j = do
       as' | tree_ ropts = expandAccountNames as
           | otherwise   = as
       render a | tree_ ropts = replicate (2 * (accountNameLevel a - 1)) ' ' ++ accountLeafName a
-               | otherwise   = accountNameDrop (drop_ ropts) a
+               | otherwise   = maybeAccountNameDrop ropts a
   mapM_ (putStrLn . render) as'
 
 tests_Hledger_Cli_Accounts = TestList []
diff --git a/hledger/Hledger/Cli/Balance.hs b/hledger/Hledger/Cli/Balance.hs
index e30480e70..8e3f294ef 100644
--- a/hledger/Hledger/Cli/Balance.hs
+++ b/hledger/Hledger/Cli/Balance.hs
@@ -382,7 +382,7 @@ formatBalanceReportItem opts accountName depth amount (fmt:fmts) =
 
 formatField :: ReportOpts -> Maybe AccountName -> Int -> Amount -> Bool -> Maybe Int -> Maybe Int -> HledgerFormatField -> String
 formatField opts accountName depth total ljust min max field = case field of
-        AccountField     -> formatValue ljust min max $ maybe "" (accountNameDrop (drop_ opts)) accountName
+        AccountField     -> formatValue ljust min max $ maybe "" (maybeAccountNameDrop opts) accountName
         DepthSpacerField -> case min of
                                Just m  -> formatValue ljust Nothing max $ replicate (depth * m) ' '
                                Nothing -> formatValue ljust Nothing max $ replicate depth ' '
@@ -424,7 +424,7 @@ periodBalanceReportAsText opts r@(MultiBalanceReport (colspans, items, coltotals
     accts = map renderacct items'
     renderacct ((a,a',i),_)
       | tree_ opts = replicate ((i-1)*2) ' ' ++ a'
-      | otherwise  = accountNameDrop (drop_ opts) a
+      | otherwise  = maybeAccountNameDrop opts a
     acctswidth = maximum $ map length $ accts
     totalrow | no_total_ opts = row "" []
              | otherwise      = row "" coltotals
@@ -446,7 +446,7 @@ cumulativeBalanceReportAsText opts r@(MultiBalanceReport (colspans, items, colto
     accts = map renderacct items
     renderacct ((a,a',i),_)
       | tree_ opts = replicate ((i-1)*2) ' ' ++ a'
-      | otherwise  = accountNameDrop (drop_ opts) a
+      | otherwise  = maybeAccountNameDrop opts a
     acctswidth = maximum $ map length $ accts
     addtotalrow | no_total_ opts = id
                 | otherwise      = (+----+ row "" coltotals)
@@ -468,7 +468,7 @@ historicalBalanceReportAsText opts r@(MultiBalanceReport (colspans, items, colto
     accts = map renderacct items
     renderacct ((a,a',i),_)
       | tree_ opts = replicate ((i-1)*2) ' ' ++ a'
-      | otherwise  = accountNameDrop (drop_ opts) a
+      | otherwise  = maybeAccountNameDrop opts a
     acctswidth = maximum $ map length $ accts
     addtotalrow | no_total_ opts = id
                 | otherwise      = (+----+ row "" coltotals)
diff --git a/hledger/Hledger/Cli/Options.hs b/hledger/Hledger/Cli/Options.hs
index 50a7bd67a..ad15697c9 100644
--- a/hledger/Hledger/Cli/Options.hs
+++ b/hledger/Hledger/Cli/Options.hs
@@ -49,6 +49,7 @@ module Hledger.Cli.Options (
   defaultWidth,
   defaultWidthWithFlag,
   widthFromOpts,
+  maybeAccountNameDrop,
   -- | For balance:
   lineFormatFromOpts,
 
@@ -465,6 +466,11 @@ widthp :: Stream [Char] m t => ParsecT [Char] st m Width
 widthp = (string "auto" >> return Auto)
     <|> (Width . read) `fmap` many1 digit
 
+-- | Drop leading components of accounts names as specified by --drop, but only in --flat mode.
+maybeAccountNameDrop :: ReportOpts -> AccountName -> AccountName
+maybeAccountNameDrop opts a | tree_ opts = a
+                            | otherwise  = accountNameDrop (drop_ opts) a
+
 -- Other utils
 
 -- | Get the sorted unique precise names and display names of hledger