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blossy797
Level 1

I have to reclassify an expense asset account to equity account my Tool icon do not open?

how can i reclassify employee advance to owner's withdrawal ?
1 Comment 1
JamesM
QuickBooks Team

I have to reclassify an expense asset account to equity account my Tool icon do not open?

Hi blossy797,

 

Based on the tool icon you've described, it sounds like you're using QuickBooks Online Accountant. I'd be happy to show you how to: Reclassify or move multiple transactions at once.

 

Before you start reclassifying an expense asset account, it's important to know the types of transactions you can't move. 

 

Types of transactions you can’t move

 

You can use the reclassify tool for most types of transactions. However, there are certain types of transactions that can’t be changed since they’re tied to specific accounts and features:

  •     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’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 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.
     

For more info on how to reclassify transactions in QuickBooks, I encourage you to check out this article: Reclassify or move multiple transactions at once. If you're having issues with the site, I recommend clearing cache and cookies on your browser by following this article: Clear Cache and Cookies. Doing this will help fix most issues the site may be having. Let me know if you have questions. I'll be on standby. :) 

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