Edit / reclassify the account under a sale/invoice

LeithG · ‎March 04, 2021

Hi guys

Recently, I decided to split my sales on my COA/Financials to show separately Sales - USD, Sales - CAD.

In attempting to edit historical invoices so they show under the correct categorization I cannot locate the option to change the account.

I've updated Product/Service to link to the new COA account, and the Customer to the sales item, but in attempting to edit the historical transaction to move it to Sales - CAD I cannot find a place to do that.

Any suggestions?

JamesM4 · ‎March 04, 2021

Hello lashedlifter,

It's great to hear from you. I trust that all is going well on your end. I'll be happy to steer you towards the right path with changing the account on your historical invoices. QuickBooks is a powerful program that enables you to get more work done and in less time.

You can edit the account that the invoice is affecting by editing the payment account instead. To do this, you'll need to open the invoice in question, and on the top right side, you'll see a blue link that says 1 payment made. When you click on that link, you'll see an option to edit the account where that invoice is going. Let me know if this what you're referring to. You're more than welcome to send screenshots of what you're seeing so we're both on the same page.

Since you've already updated the Product/Services link to the COA, it's important to note that this affects new transactions. If you'd like to update past transactions, you'll have to create a new item with the correct income account and use it to replace the old item. Here's how:

Navigate to Settings ⚙ and select Products and Services.
Click New, then choose Inventory. Stock.
Enter all the information needed. Make sure to select the correct income account.
Hit Save and close.
Go to the Sales menu, then select Invoices.
Select the invoice you want to update.
Click on the delete (trash can) icon at the end of the line of the old inventory item.
Add the new inventory item, and enter the corresponding quantity.
Select Save. You'll have to do this for the past transactions you want to update.

If past transactions aren't showing the changes, change the income account then switch it back to the correct one.

Click on the Gear/Settings ⚙ and select Products and Services.
Under the Action column of the appropriate item, select Edit.
From the Income account ▼ drop-down, choose a different account.
Click Save and close.
Under the Action column of the same item, select Edit.
From the Income Account ▼ drop-down, choose the correct account.
Select the Also update this account in historical transactions checkbox.
Select Save and close.

Let me know if this info helps. I'll be on standby in case you need anything else.

View solution in original post

JamesM4 · ‎March 04, 2021

Hello lashedlifter,

It's great to hear from you. I trust that all is going well on your end. I'll be happy to steer you towards the right path with changing the account on your historical invoices. QuickBooks is a powerful program that enables you to get more work done and in less time.

You can edit the account that the invoice is affecting by editing the payment account instead. To do this, you'll need to open the invoice in question, and on the top right side, you'll see a blue link that says 1 payment made. When you click on that link, you'll see an option to edit the account where that invoice is going. Let me know if this what you're referring to. You're more than welcome to send screenshots of what you're seeing so we're both on the same page.

Since you've already updated the Product/Services link to the COA, it's important to note that this affects new transactions. If you'd like to update past transactions, you'll have to create a new item with the correct income account and use it to replace the old item. Here's how:

Navigate to Settings ⚙ and select Products and Services.
Click New, then choose Inventory. Stock.
Enter all the information needed. Make sure to select the correct income account.
Hit Save and close.
Go to the Sales menu, then select Invoices.
Select the invoice you want to update.
Click on the delete (trash can) icon at the end of the line of the old inventory item.
Add the new inventory item, and enter the corresponding quantity.
Select Save. You'll have to do this for the past transactions you want to update.

If past transactions aren't showing the changes, change the income account then switch it back to the correct one.

Click on the Gear/Settings ⚙ and select Products and Services.
Under the Action column of the appropriate item, select Edit.
From the Income account ▼ drop-down, choose a different account.
Click Save and close.
Under the Action column of the same item, select Edit.
From the Income Account ▼ drop-down, choose the correct account.
Select the Also update this account in historical transactions checkbox.
Select Save and close.

Let me know if this info helps. I'll be on standby in case you need anything else.

LeithG · ‎March 05, 2021

Thanks James; after removing and replacing the item on the invoice with the modified one it worked as expected. Not how I would have anticipated having to do it, but every software has its own idiosyncrasies.

Much appreciated.

LauraAB · ‎March 05, 2021

I'm glad to hear what James suggested worked out for you. I hear what you're saying about it not being the expected solution, and I invite you to submit feedback about the process using the steps here: How do I submit feedback? As you may have seen me mention on other threads, this helps our product development team get a sense of the way folks would like to use the product and helps as we continue to evolve the software.

We also have a great new page, QuickBooks Online Feature and Product Updates, which you're welcome to bookmark to keep on top of changes made to the program.

Have a great weekend!

Ann38 · ‎March 10, 2021

Hi,

I recently started using QuickBooks online and I would like to transfer my January 2021 financial information from Connected by Accountek accounting system into QuickBook. What is the safest way for me to do this without having to enter all the transactions?

JamesM4 · ‎March 10, 2021

Hi Ann38. Connecting your bank to QuickBooks allows you to get a better view of your transactions. QuickBooks allows you to connect your bank and upload your transactions so you can put your financials into focus. I'd be glad to share more information about connecting your bank to QuickBooks.

Here's how to connect your bank to QuickBooks:

Click on the Banking menu.
Select Link account.
Search for the name of your financial institution.
If QuickBooks is unable to find your bank, you will get the message, "Hmm, we can’t find [name of the bank you entered] in our list of supported banks," and you will be presented with helpful tips to try and locate your bank account.
If you’re still unable to find your bank, select Request support for your bank.
Enter your bank's web address (URL) in the field provided, then select Request.

After you submit your request to add your financial institution, you may be able to use one of the alternative methods for downloading and importing your bank transactions. Here are the alternative methods you can use to import your bank transactions:

After manually importing your transactions, you can now run powerful reports in QuickBooks.

Let me know if this info helps. Feel free to reach back to me if you need anything else, I've got your back.

N Persaud · ‎October 23, 2022

Hello. How would I edit/reclassify the account under a sale/invoice when using the current QuickBooks Online version. The directions above don't seem to apply anymore but this is exactly what I am trying to correct. My invoice is going to a generic sales account when I want to apply it to a more specific account that I have setup in my chart of accounts.

Jen_D · ‎October 23, 2022

Thanks for reaching out to us and allowing us to help you reclassify your transactions, @N Persaud.

I can suggest some options for you, so you're able to post your transactions correctly. Just know that the transactions in the program have default posting accounts pre-created when you set up the company file. Can you please clarify with us the accounts you're referring to? You may post some screenshots here so we can have a clear picture of what's going on.

Also, if you need to reclassify bulk entries, you will need an accountant user to do it for you. All you need to do is invite an accountant user using the steps found in this link. When you're done, have them follow the steps in this article to update any accounts for multiple entries in QBO: Reclassify or move multiple transactions at once

Kindly update me with the additional details or result by replying to this thread. I'll waiting for your reply and I'm always here to help.

Krienkie · ‎May 13, 2024

Hi, I need to reclassify accounts on an item. We use service items for invoicing. And recently we integrated with Autotask, but with this we had to create new items. After a month we decided to change some of the items income accounts, but the old invoices did not update with this change. I tried reclassifying the accounts using the accounants tools, but it does not allow me to change the account of an item, even though the items account has been changed to the new account that I want to reclassify these invoices too. Is there anoth way to correct these account allocations?

Trish_T · ‎May 13, 2024

Hi Krienkie,

Thanks for joining us here. Your time is valuable, and I feel you would benefit more by contacting our QuickBooks Online Customer Care team outside of Community. They would enjoy the opportunity to work with you in real-time, so you can accomplish your QuickBooks goals as soon as possible!

Should you have any other questions, feel free to reach back out. We would be glad to help!

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Edit / reclassify the account under a sale/invoice