Change the account for a product or service item

Learn how to change the income account for any of your product or service items in QuickBooks Online.

You may need to use a different income account for your product or service item and make sure your company has an accurate record of your transactions.

Change the income account for your items

1. Go to Settings and select Products and services (Take me there).
2. Find the item and select Edit.
3. From the Income account ▼ dropdown, select the account you want to use. 
   Note: Can't see the account? Make sure the account's detail type is Sales of Product Income.
4. Select Save.

Note: You can only change the account for an item one at a time.

To update past transactions

For service and non-stock items, select the Also update this account in historical transactions checkbox after step 3 in the above Change the income account for your items section. This updates all transactions that use the item.

For stock items, the checkbox doesn’t appear. This may be because stock items track quantities on hand using First In, First Out (FIFO). FIFO affects your assets and Cost of sales (COS) differently from service and non-stock items.

Note: When you change the income account for stock items, it also affects prior transactions. If you don't want to update past transactions, create a new item with the correct income account and use it to replace the old item.

First, add a new stock item. Make sure to select the correct income account.

1. Go to All apps , select Sales & Get Paid, then select Invoices (Take me there).
2. Select the invoice you want to update.
3. Select Edit invoice.
4. For the old stock item, select the delete icon .
   Note: In case the invoice is linked to a quote, expense, or any other type of transaction, provide your confirmation to delete the item.
5. Add the new stock item, and enter the corresponding quantity and other details.
6. Select Save.

Do this for every past transaction you want to update.

If past transactions aren't updating, change the income account and switch it back to the correct one.