I found an item product code with a WRONG Income Account. I changed the income account however my past transactions were not updated. How do I change past in bulk

Hello,

This is very easy, no worries.

Go back to the item that had the wrong income account.  Change it back to the incorrect income account and save it.

Then go back and edit it again.  Change it to the correct income account BUT..... BEFORE you click save, check mark the box below that says "Update for Historical Transactions" . Then click save.  Now it will be updated in all your past transactions.

So if I change the item to different account, it would only affect the data going forward if I don't check mark "Update the Historical Transaction"?

I want to make sure our historical stays the same as we made AJEs to correct that in the past.

Thanks

You got it right, @inhoso.

Ensure to put a checkmark inside the box beside Also update this account in historical transactions. This way, it'll update all your past transactions that are linked to the item. 

For more details about changing account for product/service item in QuickBooks Online (QBO), you can refer to this great article: Change the account for a product/service item.

Then in case you need to merge your product/service in QBO, check this article for the detailed steps: Remove or merge a product or service.

You're always welcome to post anytime you need more help. The Community is here to help.

Thanks for prompt response.  I'm using Enterprise desktop version with adv inventory.   Actually, items are the inventory parts.

These were set up to show COGS in revenue account from the begining.  Previous accountants made AJE to move COGS out of revenue account and into the correct COGS account.  I was told that if I make the change the account on these items, it will affect historical data.  My solution has been was to create duplicate item to correct account, transfer the inventory and make the item inactive.  I want to make sure that is the right solution.

You don't need to create a duplicate item, @inhoso.

Let's click No on the prompt message after when updating the expense account of your items so it won't affect your historical data. To turn on the prompt message:

1. Go to Edit.
2. Select Preferences.
3. Choose General.
4. Under My Preferences, put a checkmark on Bring back all one time messages to turn it on.
5. Click OK.

I've got you these helpful articles for ideas in managing your reports and other related tasks: Reports and Accounting.

Leave me a comment below if you have any other questions. Thanks!

Hello everyone.

We are using Premier Manufacturing.

Up until now, all sales transactions were affecting a unique Sales, COGS, and Inventory accounts (system default).

We decided to split them into 4 different categories for  Sales, COGS, and Inventory (all sub accounts of the main ones). Our system has over 10,000 items

We understand changing the accounts one item at a time will trigger the option to affect past transactions; and that is exactly what we want to do. But one by one will take forever.

Going through the Inventory List, there is an option to edit multiple items at once, but it does not prompt the option of affecting past transactions, only future ones.

Would anybody know if there is a way to mass change the accounts AND to do it in a way that also alters past transactions ?

Thank you !!

Hi there, SmartSupply.

For now, we're unable to affect the changes on past transactions if you're editing the income account through the Add/Edit Multiple Items feature.

You'll want to go over the item one at a time through the List window, so you'll get the prompt to update all existing transactions. 

Let me share these articles and quick guides about managing inventories in QuickBooks Desktop:

• Fix Negative Inventory Issues In QuickBooks Desktop
• Combine Your Inventory Items To Build Finished Goods
• Add, Edit, And Delete Items
• Adjust Your Inventory Quantity Or Value In QuickBooks Desktop 

Let me know if you have other questions. We're always here to help.

@SmartSupply 

You should create a new company file and utilize one of these migration tools. Export all of your data out to XLS, modify any transaction data you wish, and import them in bulk into your new file.

https:// transactionpro.grsm.io/qbd

https:// partners.saasant.com/affiliate/idevaffiliate.php?id=5051_2

This is really helpful!

I Had the same problem and I resolved it according to this step!