How to you edit an existing transaction that was posted to the wrong general ledger account?

You can edit an existing transaction in the account register, @dreedy, and I have the steps to assist you in doing this in QuickBooks Online (QBO).

The account register provides a historical view of all past and current transactions associated with an account, allowing you to review and make quick edits.

Here’s how to do it:

1. Hover over to the Transactions menu, then Chart of accounts.
2. Find the account you want to check, then click View register in the ACTION column.
3. To streamline your search, use the Filter or the mini Gear icon to adjust which rows and columns are displayed in your register.
4. Locate and select the transaction you want to edit to expand its view.
5. Update any editable fields.
6. For grayed-out sections, click Edit to open the full transaction form, allowing for more comprehensive changes.
   
7. Select Save or Save and close once done.

After you finish, I recommend running the Transaction Detail by Account report to help you track other transactions and verify that your records are accurate.

Additionally, regularly reviewing and reconciling your account is essential for maintaining financial accuracy, facilitating efficient tax reporting, and ensuring comprehensive financial management.

You're always welcome to Reply to this message if you have further questions about editing and tracking transactions in QBO. I'm here to help you get the most out of QBO.

Jelayca

When I select the transaction and then select EDIT it brings up the invoice however the invoice has the invoice line items for the sale, however there is no account code to edit.  The invoice was posted as service income and should be Sales-Software.

BTW, a reply to your email was returned as undeliverable.

David [last name removed]

Thank you for following the steps provided by my colleague and for giving us an update, David. Let's get that invoice posted to the correct account.

Your invoice is posted to the assigned income account of the item being invoiced. So, all we need to do is change it from Service Income to Sales-Software.

Here's how:

1. Go to Sales and select Products and Services.
2. Find the item and select Edit.
3. From the Income account dropdown, choose the appropriate account you want to use (Sales-Software). (NOTE: If you didn't see the account, ensure the account's detail type is Sales of Product Income.)
4. If you want to update past transactions, select the Also update this account in historical transactions option.
5. Once done, click Save and close.

For more details about the process, please see this article: Change the account for a product or service item in QuickBooks Online.

Additionally, you can run various reports to see your best sellers, what’s on hand, the cost of goods, and more.

We are always available and committed to providing top-notch support. Click the Reply button if you require additional assistance adding items and managing their accounts.

Thank you for your reply.  When I create a new invoice I enter a description, unit price, Qty and check if taxable.  Accordingly I don’t have a product item to edit.  I also can not see any Product/Service Item associated with the invoice in question. 

Is there a default item number that is assigned when you don’t select an existing Product/Service Item?  If so, that may be the Product/Service Item I need to edit.

David

I can help you with your transaction that was recorded under the wrong general ledger account in QuickBooks Online (QBO), dreedy.

If you did not select an existing Product/Service Item while creating your invoice, QBO doesn't automatically assign a default item number. Instead, it treats your entry as a custom line item without a specific product or service association.

If you need to associate a Product/Service Item, we can consider creating a new item in your Products and Services list.

Here's how:

1. From the left navigation menu, select Sales and then click on Products and Services.
2. Add a New Item and enter all the necessary details.
3. Click Save and Close.

Once done, we can now link the item to a transaction.

1. Locate the transaction and open it.
2. In the line item sections, enter the name of the new item you created.
3. Fill in any other necessary information.
4. Once done, click Save and Close.

Additionally, here's an article you can utilize when keeping track and reviewing your accounts, so they always match your bank and credit card statements: Reconcile an account in QuickBooks Online.

I'll be on this forum anytime you need additional assistance managing transactions in your file. Stay safe and have a good one!

Thank you, however this invoice transaction has been paid and editing does not seem any option to add/query an item number from Item list.  Also, this is the only invoice with products that was posted to Service income despite all line items flagged as taxable. 

Unfortunately, none of the responses received to this issue appear to resolve this issue.

Thanks for following up with the Community, dreedy. I appreciate your detailed information.

When creating invoices, if a line item doesn't have an item listed in its PRODUCT/SERVICE column, QuickBooks will automatically assign a default item called "Design:Services".

I tested myself this in our test drive account and have included an image showing how it works:
 

With that said, if you've been creating invoices without listing items in your line items, each one without an item should've been assigned to the item titled Design:Services once they were saved into QuickBooks. With this knowledge, you can use your steps from AdonL's post to make any necessary changes.

You can also pull up the edit screen for existing invoices and review their PRODUCT/SERVICE columns in the line items area to identify which particular product or service is assigned to a line item on an invoice.

I've also included a couple detailed resources about using QuickBooks which may come in handy moving forward:
 

• How to submit feedback
• Add & manage product/service items

Please feel welcome to send a reply if there's any additional questions. Have an awesome Thursday!