Do you have multiple transactions that you need to change the VAT code for?
The new Reclassify Transactions feature now available in QuickBooks Online Accountant enables you to bulk reassign VAT codes for historical transactions.
In addition, you can reclassify the Account or Class of a transaction.
Reclassifying Accounts or Classes for Transactions
- Select the Accountant Toolbox \uD83D\uDCBC icon Then Reclassify Transactions.
- Apply the relevant Filters and then select Find transactions.
- Select the transactions you wish to change then Reclassify.
- Select the relevant option under Change Account to OR Change Class to then select Apply.
- Transactions that do not contain a customer name cannot be reclassified to Accounts Receivable.
- Transactions that do not contain a supplier name cannot be reclassified to Accounts Payable.
- Balance sheet accounts on Expense transactions cannot be reclassified.
- You cannot change the account for Item based transactions (Invoices, Sales Receipts, Cheques and/or Bills). Items have income and expense accounts tied to them.