Migration of wallet accounts to labels

From what I have read, when you upgrade Bitcoin core, the accounts will become labels. If my understanding is correct. addresses previously associated with an account will now be associated with a label with the same name.

You will not be able to ask Bitcoin core to compute a balance for a label. The accounts feature had some significant problems and was being used in ways that had not been anticipated. Therefore many associated actions and APIs for accounts are not available for labels.

Useful references