I am updating my products and services, but when I change the Income Account, it is not updating historical transactions. How can I ensure that it updates properly.

Thank you for taking the time to reach out to us here on the Community page, .

When changing an account for your products and services, the changes will only take effect for service and non-inventory items. For inventory types, the update will only take effect the future transactions after the update. As a workaround, you can reset up the item, then recreate your past entries.

For additional reference about managing your products and services, check out these articles:

• Adding Products and Services, Customers, and Vendors to Lists
• How to set up products & services

Let me know if you have any other questions. I'm a few clicks away to help. Have a good day!

@Angelyn_T 

@robin-miller38 

"When changing an account for your products and services, the changes of the account will only take effect on the historical transactions for the inventory items. The update is not retroactive for the service and non-inventory items. To check the updates accordingly, I recommend closing and opening back your QuickBooks Online account."

It should be quite opposite as it relates to "Also update this account in historical transactions" update:

   Inventory items = No

   Service and Non-Inventory items = Yes

I have found on several client accounts that I no longer see the "update historical transactions" when updating inventory income line.  Is this a software glitch?  Have had this issue for over three months.

Hi, @scsmom. 

Let's resolve your historical transaction issues and move them to the new account.

You'll need to retrigger the income account line so the Also update this account in historical transactions option will appear in QBO. 

Here's how: 

1. Click the Gear icon at the top, then choose Product and Services. 
2. Locate the product or services item, then click the Edit button under Action. 
3. Choose other income or previous account from the drop-down. 
4. Hit Save. 
5. Go back and hit Edit again. 
6. Change the account back to the correct one. 
7. After changing, you can have the option to check the Also update this account in historical transactions. 
8. Hit Save. 

Once you're able to check the Also update this account in historical transactions, you can now move your historical transactions over to the new account. 

Please see the sample screenshots below for your reference: 

However, if the issue persists, I'd suggest doing primary troubleshooting steps to get rid of the error. Seldom cache saved up in the system can cause the product to misbehave. 

To start, access a private browser or incognito. This browser won't save your browsing history, cookies, and site data. 

Here are the keyboard shortcuts: 

• Ctrl+ Shift + N (Google Chrome)
• Ctrl + Shift + P (Mozilla Firefox)
• Command + Shift + N (Safari)

Once logged in, go back to the product and services page and check if the historical transaction option is already functioning well. If that works, go back to your default browser and initiate a clear cache to fix the unusual behavior. Here’s an article to help with the process: Clear cache and cookies to fix issues when using QuickBooks Online. Using another compatible browser is a good alternative too. 

I've attached an article about how to record historical vendor transactions, past sales, and accounts receivable in QBO. 

• Enter historical information

Let me know how it goes by clicking the Reply button below. I'm always here to help. Have a great day!

Thank you but I have tried all those options.  This is only happening in some of my clients books that I am accessing, not all.  I thought maybe an update may have disabled the feature. I know QBO rolls out updates in waves (not all customers at once). And that maybe why the feature is not working in only some of the clients books. 

Thanks for getting back to us, scsmom.

Some products and services types will not automatically update in QuickBook Online (QBO). You'll have to make them inactive and recreate them so you'll be able to use and update the new income line. Please follow the steps below.

1. Click on the Gear icon.
2. Select Products and Services which appears under Lists.
3. Then click on the drop-down arrow near the Edit button
4. Select Make inactive, then click Yes.

Once done, you can recreate the product.

Please read this article for more information about changing the income account of the product: Change The Account for A Product/Service Item.

You'll want to use reports to see your sales and inventory status.

Keep me posted if you need anything else. I'll be here to help.

what is the logic in this restriction to historical data changes for inventory items only?

what is the logic in this restriction to historical data changes for inventory items only?

I can not find the "update historical" when I change an item to inventory. What is wrong?

Thanks for following this thread, SM29.

In QBO, you can only use the Also update this account in historical option when changing a non-inventory or service item. We want to make sure your previous transactions and inventory reports have the correct information. That’s why the updating feature mentioned above will not show in inventory products.

I’m also adding an article that tackles recording an item to an incorrect account. Please know the steps are from the desktop version, but some of the solutions will apply to QBO: How to Fix Items Posted to The Wrong Account in QuickBooks.

Additionally, this guide provides an overview of how the inventory feature works in QBO. It includes instructions to modify the cost and initial quantity of an item: What is FIFO and how is it used for inventory cost accounting?

Don’t hesitate to visit the Community again if you have other concerns. I’ll be right here ready to lend a helping hand. Have a great weekend ahead.

Is there any quick.efficient way to change the prices on the past transactions? I have a similar problem, where I produce my own products and realized the 'cost was off before and need to change it in the past orders. I know how to change the start date, but do I have to go into each order in the past and change each inventory cost manually?

I am having a similar issue. I realized late that some old inventory actually cost more than charged. (We make our own products and in the beginning were learning about consumption costs). Is there a quick/efficient way to change the costs for all the old POs without having to go one by one? 

Hello there, @pial.

You can download a copy of our product and service items. Then, change the amount on the Purchase cost column. Once set, you can import it back to your QuickBooks account. I can guide you on how to do it.

1. Go to the Gear icon.
2. Choose Product and Services.
3. Click the Export to Excel icon. 

Next,  let's make the necessary changes. 

Now, you can import it into QuickBooks. Here's how:

1. Go to the Gear icon.
2. Choose Import Data.
3. Select the Product and Services tab.
4. Click the Browse button.
5. Locate the saved file then, click the Next button.
6. Map your excel fields to the QuickBooks fields then, click the Next button.
7. From the Import products and services page, review the item details.
8. Make sure to mark the Overwrite all values for each product or service that you import with the identical name tick box.
9. Click the Import button.

Just a heads-up any changes made is not retroactive to the transactions you've already created. You can read through this article for more detailed steps: Import products and services from Excel.

Get back to us here if you have other questions or concerns. I'm always here to help.

Similar to the posts above, I do not get the box to 'update historical'.  All my items are 'services'.

thanks in advance

Let's make sure that the Also update this account in historical transactions box is showing as an option, sylvia35.

You'll only see the option once you edit an income account of your non-inventory or service item. I've attached a screenshot so you'll be guided visually.

After you've checked the box, you can now move your historical transactions over to the new account. You'll want to see the screenshots for the detailed steps provided by @MichelleBh.

For your reference, you can run inventory reports in QuickBooks Online so you'll be able to get the information you need. Please read this article for more information: Run Reports In QuickBooks Online.

Please touch base with us if you need further assistance with inventory in QuickBooks Online. We'll always make sure to get back to you. 

I don't get that check box.  thank you

I've got you covered, sylvia35.

Thank you for the screenshot. Let me clear things out so you can see the option when editing the product and service.

You'll first need to change the income account of the item. Then, the Also update this account in historical transactions box will appear. See the attached screenshots below for your visual guide.

You can visit again this link for additional information: How do I change the account my product and service item is associated with?

In case there isn't enough quantity on hand for your products and services, you can set up reorder points. Check out this article for instructions and detailed steps: Get alerts for low or out of stock products

Stay in touch with me if there's anything else you need with updating your products and services. I'll be right here to help you.

Thank you!!!!!!!!!!

Thank you!!!!!

This absolutely works, thank you!!!

This absolutely works, thank you!

How do you do the same thing, but in Quick Books Desktop? There is no option for Historical transactions. 

Hello there, @bgorlando.

I appreciate you following this thread and letting us know you had the same concern for the QuickBooks Desktop version.

Let me provide you the steps on how to change the income account. I want to make sure you can update historical transactions as well.

Before we proceed, make sure to back up your files to be safe if you want to revert the changes.

Follow the steps below to update income account:

1. Go to Lists, then choose Item List.
2. Open the item you want to edit by clicking it twice.
3. Hit the dropdown for the Income Account, then select the new account to use.
   
4. Click OK.
   
5. You should see a pop-up message to confirm if you want to update all the existing transactions on that item. Choose Yes.

I recommend checking this article in the future if you want to customize your reports: Customize reports in QuickBooks Desktop.

I’ll be here if you have any additional questions about change your income account for your items. Just drop a comment below. 

Thank you so much for responding. However I changed the items a different way. I went to my item list, right clicked on one of the items and chose add/edit multiple items, because I had several to change, and after I changed them, I never got a pop-up. So now what. Is it too late now? :(