Part Sales COGS Account Changes in QB Desktop

Glad to have you here in the Community, @WB19.

The ability to change the COGS Account Number without changing the account number for parts you sell for retroactive transactions is not available in QuickBooks Desktop.

If you change the COGS account number for parts you sell the account number change will apply retroactively and affect historical transactions using that account. QuickBooks Desktop applies changes globally across all instances of the account, including past, present, and future transactions. This is a consideration to keep in mind if you need to adjust reporting or keep track of historical data.
 

However, you have the option to add a note per parts item and enter a text or description you want to put. Here's how:

1. At the menu tab, click Inventory.
2. Choose Item list and double click the item you want to add note with.
3. Click New Note then enter description or text you want to add.
4. Then select OK to save.

I've also included this link in case you need them for your future business work:

• Track the products you manufacture
• Understand inventory assets and cost of goods sold tracking

Please let me know if you have other concerns or inquiries about managing your COGS account in QuickBooks Desktop. I'll be there to lend a hand. Keep safe!

If I change an account number and have the 2023 year closed with password protection, Would this prevent QB from making the changes to 2023 transactions?

Bob W

Thank you very much!

Thanks for getting back, WB19.

On behalf of my colleague Tori B, I want to extend a warm welcome back to you. I’m glad that the education provided by my colleague helps you on handling your COGS account effectively.

To further assist you, I’d like to share some resources that can help you manage your bank entries in QBDT more effectively:

• Add and match Bank Feed transactions in QuickBooks Desktop
• Create rules to categorize transactions in QuickBooks Desktop

   

Revisit this thread if you have any additional questions or concerns. If you need assistance reconciling your records or have any other inquiries about bank connectivity in QBDT, click the Reply button. My team and I are always here and ready to help whenever you need guidance.

This answer is only partially correct. I am on Desktop Enterprise Solutions Manufacturing and Wholesale 24.0

First, in order to change the COGS you have to be in single user mode.

Second, when I try to change the COGS I get a dialog box

"You changed an account associated with this item xxx. All future transactions with this item will use this new account. Would you like to also update existing transactions? Yes, No or Cancel"

This question seems to imply that it is possible to ONLY CHANGE FUTURE TRANSACTIONS....

However, when I choose NO (meaning I do NOT want to update existing transactions), then I get the message "This modification will affect transactions from closed periods" which seems to directly contradict the instructions from the prior dialog box. This appears to be a bug in the software. It appears to offer you the opportunity to only affect future transactions, and then does not do it....!

By the way, not allowing a change is stupid. We use different COGS accounts as a method of tracking COGS by product line.

If we re-use a part from one product line in another product then we need to be able to change the COGS for that part without affecting the past accounting.

Otherwise, what we will need to do is BEFORE ENTERING any new part, we have to think about whether or not it might be used in multiple products in the future, and if so, select the general COGS Materials account. If we are wrong, we are screwed.