Reclassify or move multiple transactions

Move multiple transactions to a different account, class, or location at once in QuickBooks Online Advanced and QuickBooks Online Accountant.

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Overview

The reclassify transactions tool allows you to efficiently correct or change recorded transactions in bulk. You can reassign transactions to a new account, class, or location.

Tool Availability:

• QuickBooks Online Accountant (for clients on any subscription)
• QuickBooks Online Advanced

Prerequisites

Before you begin, identify the transactions that need to be moved.

1. Run a Profit and Loss report.
2. Review the report to find transactions that are categorized incorrectly.
3. To reclassify by location, you must first set up locations in your settings.

Limitations

Certain transactions and fields cannot be reclassified using this tool.

• Payment accounts: You cannot change the bank or credit card account for expenses.
• Inventory adjustments: You cannot change the account or class, as these are linked to inventory shrinkage and asset accounts.
• Transactions with items: For invoices, sales receipts, checks, or bills that include products or services, you can only change the class, not the account.
• Billable expenses: You can change the expense account, but not the income account for the related income transaction.
• Payroll transactions: These cannot be changed in this tool; manage them within the Payroll app.

Reclassify transactions

Follow these steps to move your transactions.

1. Go to Settings ⚙.
2. Select Dimensions, then Dimension assignment, then Reclassify transactions (Take me there).
3. Select an Account type from the dropdown menu:
   • Profit and Loss: To access income and expense accounts.
   • Balance Sheet: To access asset, liability, and equity accounts.
4. Find the transactions you want to move. You can filter the list by date or search for specific transactions.
5. Select each transaction you want to reclassify.
6. Select Reclassify.
7. In the window, select a new Account, Class, or Location to apply to the selected transactions. If moving a transaction to Accounts Receivable or Accounts Payable, you must assign a customer or vendor.
8. Select Apply.