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Reclassify or move multiple transactions

by Intuit•23• Updated 2 days ago

In this article, you'll learn about:



Learn about the types of transactions you can't move

You can reclassify most transactions, but not all. Some are tied to specific accounts or features.

  • You can’t change the payment account (bank or credit card) for expenses.
  • You can’t change the account or class for inventory adjustments, since they’re connected to your inventory shrinkage and asset accounts.
  • You can change the class for invoices, sales receipts, cheques, or bills with items (products or services) on them. However, you can’t change the accounts.
  • You can change the expense account for billable expenses, but not the income account for the related income transactions.
  • You can manage your payroll transactions in the Payroll menu.

This video shows the QuickBooks Online Advanced experience, but is useful for the Accountant view experience. Find the specific steps for your account below.

Prerequisites

First, make sure you know which transactions you want to reclassify. There are a few reports you can use to find this information, like the Profit and Loss report.

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If you want to change the location of your transactions, set up locations for your account.



Reclassify and move transactions

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  1. Go to Settings âš™ and select Reclassify transactions.
  2. Select Account types  ▼ dropdown.
    • Select Profit and loss to see income and expense accounts. 
    • Select Balance sheet to see your asset, liability, and equity accounts.
  3. Select Find transactions.
  4. Select the checkbox next to each transaction you want to change.
  5. Select Reclassify.
  6. For the transactions you’re changing, select a new account, class, ‌or location.
    Important: Before you move transactions to Accounts Receivable (A/R) or GST/HST Payable, make sure there's a customer or supplier. Don’t leave these fields blank.
  7. When you’re ready, select Apply.


Frequently asked questions

How does sales tax reclassification work?

You can reclassify sales tax by changing the Tax codes for specific items. However, the total amount (Gross amount) won't change at the transaction level.

What about sales tax codes?

You can't reclassify sales tax codes in the following cases:

  • Transactions marked as Out of Scope at the transaction level. For example, invoices that are set as out of scope at an invoice level can't be reclassified.
  • Transactions with discounts.

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