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Reclassify or move multiple transactions

by Intuit•6• Updated 2 days ago

Reclassify or move multiple transactions in QuickBooks Online Advanced and QuickBooks Online Accountant.

Reclassify multiple transactions at once with the reclassify transactions tool, and efficiently move them to another account, class, or location. This helps you correct or change recorded transactions.

Tip: ProAdvisors using QuickBooks Online Accountant can reclassify transactions for clients on any QuickBooks Online subscription.

Take note of the prerequisites

Run a Profit and Loss report to identify and reclassify any transactions that need it. Go to Reports Icon image of the Reports menu. and select Standard reports (Take me there).

Note: To reclassify transactions by location, you need to set up your locations first.

Some transactions link to certain accounts or features, so you can't reclassify them.

  • Payment accounts: You can't change the payment account (bank or credit card) for expenses.
  • Inventory adjustments: You can't change the account or class for inventory adjustments. They’re connected to your inventory shrinkage and asset accounts.
  • Transactions with items: You can't change the account for invoices, sales receipts, cheques, or bills that include products or services. You can only change the class.
  • Billable expenses: You can't change the income account for the related income transaction, but you can change the expense account for a billable expense.
  • Payroll transactions: You can't change payroll transactions, but you can manage them in the Payroll menu.
  1. Go to Settings âš™ and select Reclassify transactions.
    Note: Currently in the new layout, the option for Reclassify transactions does not show for all customers under the Settings âš™. It can be found in Accountant tools under the Tools section.
  2. From the Account types ▼ dropdown,
    • Select Profit and loss to access income and expense accounts.
    • Select Balance sheet to access your asset, liability, and equity accounts.
  3. Select Find transactions.
  4. Review the list of transactions and tick the box for each one you want to move.
    Tip: You can also type the transaction or set a date to filter your list and find what you need faster.
  5. Select Reclassify.
  6. In the Reclassify transactions window, select a new account, class, or location to apply to the selected transactions.
    Note: Assign a customer or supplier before you move a transaction to Accounts Receivable (A/R) or Accounts Payable (A/P).
  7. Select Apply.