Change the account for a product/service item

For service and non-inventory items, select the Also update this account in historical transactions checkbox after step. This updates all transactions that uses the item.

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

When you change the income account for inventory items, it only affects new transactions. If you want to update past transactions, create a new item with the correct income account and use it to replace the old item. To do this:

1. Go to Settings ⚙ and select Products and services.
2. Select New, then choose Inventory.
3. Enter all the information needed. Make sure to select the correct income account.
4. Select Save and close.
5. Go to the Sales menu, then select Invoices.
6. Select the invoice you want to update.
7. Select the delete (trash can) icon at the end of the line of the old inventory item.
8. Add the new inventory item, and enter the corresponding quantity.
9. Select Save. 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.

1. Go to Settings ⚙ and select Products and services.
2. Under the Action column of the appropriate item, select Edit.
3. From the Income account ▼ dropdown, choose a different account.
4. Select Save and close.
5. Under the Action column of the same item, select Edit.
6. From the Income account ▼ dropdown, choose the correct account.
7. Select the Also update this account in historical transactions checkbox.
8. Select Save and close.