Change of account from COGS to Income

3PointA · ‎September 01, 2021

I have an account tied to a lot (a lot) of invoices that put actual sales of goods in to cost of goods sold. Only noticed after recently switching from desktop to online. Tried to change the account over to an income account in my chart of accounts but the Quickbooks online version doesn't allow it. Went back to my desktop version, opened up my chart of accounts and switched it over no problem. P&L is now a happy place in desktop, need to make it so online.

Here is what I think the problem is. When doing it on the online version, the confirmation pop-up gets hidden behind the edit window and I am unable to click "Yes" without closing said edit window. This obviously isn't going to work as I'm cancelling out of my edits before confirmation. Is there a fix for this? On a side note, why in 2021 isn't a pop-up window (the edit window in this case) able to be drug around the screen? Seems like pretty standard practice.

Back on point. If there's no fix for the current problem (my OCD will not allow journal entries to fix this), is it possible to then delete my current online version of the company and re-create it with my now updated desktop version? Not much information has been input in to the online version and would only take a few hours to get back to where I was with my books. Seems like a great trade-off vs journal entries (heaven forbid) or going through thousands of sales and updating them with an income account tied to them vs COGS (bigger heaven forbid).

Thank you all for your help and apologies if my terminology is incorrect. Aside from entering invoices, I am a complete Quickbooks novice.

Giovann_G · ‎September 01, 2021

Hello there, 3PointA.

I can share a way to fix this so you're able to change the cost of goods sold(COGS) to an income account.

When switching from QuickBooks Desktop(QBDT) to QuickBooks Online(QBO), you might have a missing transaction or the report may be different and doesn't match. This is because some data doesn't convert when migrating from QBDT to QBO. When this happens, you can manually add those missing transactions or modify the accounts affected.

Unusually, you may have experienced a browser-related issue that hides the pop-up window. Let's do some basic troubleshooting steps to fix it. You can start by accessing your account using a private or new incognito window. Here are the shortcut keys:

Press Ctrl + Shift + N for Google Chrome
Press Ctrl + Shift + P Mozilla Firefox
Hold Command + Shift + N for Safari

Also, you can use different support browsers to further isolate this issue. Alternatively, if you're account is less than 60 days and you want to start from scratch. You have the option to purge your account. This way, the system deletes all data entered into your QBO account and you can start over.

Here's how:

Log in to your QuickBooks Online account.
Copy the URL and replace /homepage to /purgecompany.
Example: URL shown is https://...qbo.intuit.com/app/homepage, change to https://...qbo.intuit.com/app/purgecompany.
The next screen provides details of the item to be deleted.
Type the word "YES" to delete data, then click OK.
Select Wipe Data to complete the process.
Once done, all the data will be removed and you'll be rerouted to the home page.

For your reference, you can check out this article for more details: Delete your data and start over in QuickBooks Online.

I've got this helpful material you can read if you want to display only the information needed on your report: Customize reports in QuickBooks Online.

You can always post a reply if you have further questions about managing your account. I'm always here to back you up.

View solution in original post

Giovann_G · ‎September 01, 2021

Hello there, 3PointA.

I can share a way to fix this so you're able to change the cost of goods sold(COGS) to an income account.

When switching from QuickBooks Desktop(QBDT) to QuickBooks Online(QBO), you might have a missing transaction or the report may be different and doesn't match. This is because some data doesn't convert when migrating from QBDT to QBO. When this happens, you can manually add those missing transactions or modify the accounts affected.

Unusually, you may have experienced a browser-related issue that hides the pop-up window. Let's do some basic troubleshooting steps to fix it. You can start by accessing your account using a private or new incognito window. Here are the shortcut keys:

Press Ctrl + Shift + N for Google Chrome
Press Ctrl + Shift + P Mozilla Firefox
Hold Command + Shift + N for Safari

Also, you can use different support browsers to further isolate this issue. Alternatively, if you're account is less than 60 days and you want to start from scratch. You have the option to purge your account. This way, the system deletes all data entered into your QBO account and you can start over.

Here's how:

Log in to your QuickBooks Online account.
Copy the URL and replace /homepage to /purgecompany.
Example: URL shown is https://...qbo.intuit.com/app/homepage, change to https://...qbo.intuit.com/app/purgecompany.
The next screen provides details of the item to be deleted.
Type the word "YES" to delete data, then click OK.
Select Wipe Data to complete the process.
Once done, all the data will be removed and you'll be rerouted to the home page.

For your reference, you can check out this article for more details: Delete your data and start over in QuickBooks Online.

I've got this helpful material you can read if you want to display only the information needed on your report: Customize reports in QuickBooks Online.

You can always post a reply if you have further questions about managing your account. I'm always here to back you up.

3PointA · ‎September 02, 2021

Incognito window worked, thank you. That's a very odd bug and really should be looked in to.

MonicaM3 · ‎September 02, 2021

Thanks for circling back to let us know you were successful @3PointA. I'd be happy to send you feedback to our dev team.

Enjoy your day!

Cameo Lea · ‎October 20, 2022

I have an account that is under COGs and all of my CAMs are going into it but I need them to go into my sales under a different account and I have no idea how to change this can you help ?

QueenC · ‎October 20, 2022

Thank you for posting here on the Community, @tsieja.

I'm glad to assist you today so you can change the income account for your items in QuickBooks Online (QBO). The cost of materials and products that are kept in inventory and later sold is normally reflected under the Cost of Goods Sold. However, since you want to track the items under a sales account, you can go through the following steps:

Go to Settings, then select Products and Services.
From the Action column of the appropriate item, select Edit.
From the Income account dropdown, choose the account you want to use.
Click the Also update this account in historical transactions checkbox.
Don't forget to Save and Close.

Note: You can only change an account for an item one at a time.

Once done, you can refer to this article to help you manage your inventory items in QBO: Set up and track your inventory in QuickBooks Online.

Let me know if you have other questions about your product and service items in QBO. I'm just a reply away.

rach89 · ‎April 01, 2023

I have no check box for step # 4. How do I update the historical if there is no option to do so in QBO?

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Change of account from COGS to Income