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Reclassify or move multiple transactions
Move multiple transactions to a different account, class, or location at once in QuickBooks Online Advanced and Intuit Accountant Suite.
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Video transcript
[0:00] With QuickBooks Online Advanced, you can change the category, class or location for multiple transactions with a single step, instead of one-by-one. We'll go over a common problem with categories on transactions and then fix that problem across multiple transactions with the Reclassify Transactions feature. Let's look at a common problem on the Profit & Loss Statement.
[0:23] This business has a parent account…and then subaccounts for extra detail. The problem is that some expenses were categorized to the parent account instead of to the subaccounts. You could fix these expenses one by one, but Reclassify Transactions is a faster way to correct it. Select the Settings button. Then select Reclassify Transactions.
[0:44] First, select the account that the transactions are currently categorized to. This menu helps you narrow down your choices to just the accounts that appear on the Profit & Loss statement. Or the Balance Sheet. You can also search for the account. Once you've chosen the account the transactions are currently categorized to, you can look for the specific transactions you want to change.
[1:08] Enter a date range and any other details that help to narrow down the search. Then you'll see all of the transactions categorized to the account you chose that match the criteria you selected at the top. Select the checkbox for any transaction you want to edit and then select Reclassify. From this screen you can change the account, class, and location assigned to the transactions you selected.
[1:33] This is a great tool if you just turned on classes or locations and you need to assign a class or location to a lot of transactions at the same time. Choose the changes you want to make and select Apply. QuickBooks makes all of the selected changes for you so you don't have to correct the transactions one-at-a-time. Now you're ready to correct problems with Reclassify Transactions.
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.
Run a Profit and Loss report.
Review the report to find transactions that are categorized incorrectly.
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.
Go to Settings ⚙.
Select Dimensions, then Dimension assignment, then Reclassify transactions (Take me there).
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.
Find the transactions you want to move. You can filter the list by date or search for specific transactions.
Select each transaction you want to reclassify.
Select Reclassify.
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.
Select Apply.
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