Change G/L Account for Build Assembly

ptownbro985 · ‎May 10, 2020

I'm trying to change the G/L account for a build assembly that was built/completed.

The build includes an inventory assembly item that has 2 inventory parts. Originally, the inventory assembly item as well as the 2 inventory parts were all assigned to a generic "12000 - Inventory" account as their asset account. Therefore, when you look at the journal entry transaction for that build, it looks like a debit to "1200 - Inventory" and a credit to "1200 - Inventory" (the same account).

Now we want to incorporate "12010 - Finished Goods" and "12020 - Raw Materials" accounts. So, in the item's setup we changed the asset account for the inventory assembly to "12010 - Finished Goods" and for the inventory parts to "12020 - Raw Materials". However, that change didn't get applied to the build and the journal for it still shows the same as above.

How do I change the account for that build so that the ending journal should be a debit to "12010 - Finished Goods" and a credit to "12020 - Raw Materials"?

Catherine_B · ‎May 10, 2020

Hi there, ptownbro985.

When we create an assembly, it creates a separate item or profile in our list of items. If we update the Asset Account of the inventories, we'll also need to update the account on the Assemblies that has the same item.

Let me show you how:

Go to Lists.
Choose Item List.
Locate and double-click the Inventory Assembly.
At the bottom, update the Asset Account then click OK.

The transactions using the assemblies are now on the correct account. You may refer to this article to know more about the process: Create, build, and work with inventory assembly items.

If you need further help you can always leave a reply below. Take care and stay safe always!

ptownbro985 · ‎May 10, 2020

Sorry if my original post was not clear, but I have already done that and that does not work.

As I tried to say in my original post, I've already updated the Asset Account to the new account (as you suggested). When I did that I got a message asking if I wanted to apply the change to future and historical results. I selected "yes" to allow it to do so. While it did update the account for some historical transactions, it did NOT update the account for the transactions completed through a build. Hence the reason for my post.

How do I get it to change the account on transactions that were done through the Build Assembly?

Again, changing the asset account as you suggested does not work.

RCV · ‎May 10, 2020

Thanks for coming back, ptownbro985.

I appreciate you for performing the troubleshooting steps to change the Asset account to the new one. The Inventory Assemblies and parts have their own asset accounts in QuickBooks. This means, only the transactions linked from them are the ones being transferred when changing the Inventory asset account.

Once you click Yes on the pop-up says You changed the account associated with this item, it will automatically post to your new asset account. However, if your parts or assemblies have mark-up amounts, they stay on the old account.

Since the same thing happens after updating the Asset account, I'd suggest contacting our Technical Support Team. They'll pull up your account in a secure environment and investigate what's causing this issue.

Here's how to reach them:

Click the Help icon on the top menu.
Choose QuickBooks Desktop Help.
Tap Contact us.
Select Search for something else and enter your concern in the Tell us more about your question: field.
Tap Search.
Choose Start a Message or Get Phone Number to connect with our support.

I have a link here where you can find articles about managing your investor items: https://quickbooks.intuit.com/learn-support/en-us/inventory/07?product=QuickBooks%20Desktop.

Keep me in the loop if you need a hand with customizing your inventory reports or any QuickBooks related. I'll be here to help. Take care always.

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