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Roxror
Level 2

If you raise a product sales invoice, is it possible to change the sales code the product has been allocated to afterwards?

 
Solved
Best answer February 24, 2021

Best Answers
AlexV
QuickBooks Team

If you raise a product sales invoice, is it possible to change the sales code the product has been allocated to afterwards?

Let me share more details about invoices, Roxror.

 

Once you create an invoice, it'll automatically affect the Accounts Receivable and the product's Income Account.

 

The best way to reflect it on the different income accounts is to set up three cabbages (products) and three income accounts. Then, assign each cabbage to their respective income accounts.

 

For easier tracking, you can create subaccounts in your Chart of Accounts. Also, here's how to add product and service items to QuickBooks Online. If you want to edit the items, you can go back to the Products and Services tab and update them at any time.

 

Need more help? Just post again here. Take care!

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5 Comments
ReymondO
QuickBooks Team

If you raise a product sales invoice, is it possible to change the sales code the product has been allocated to afterwards?

It's great to see you here in QuickBooks Community, @Roxror.

 

Yes, you can still undo the sales tax code in your invoice. All you have to do is to open the transaction again and change it from there. Let me show you how:

 

  1. Go to the Sales menu and select Invoices.
  2. Look for the transaction, then click it to open the Invoice window. 
  3. Click Edit invoice and update the sales tax rate.
  4. Select Save.

edit invoice.PNG

Please take note that you will be prompted once the invoice is already paid. Changing it will also affect your customer's balance. 

 

I'd recommend reaching to your accountant for further guidance before taking this action. However, if the transaction isn't yet paid, you can always reopen it and apply your changes.

 

For more details, you can check out this article on how QuickBooks Online automatically tracks your sales tax using the Tax feature.

 

Additionally, there are several financial reports you can run to track your sales income in QuickBooks. They will show you helpful insights on the things you buy and sell, and the status of your inventory. 

 

Let me know if you need further assistance with this. I'm always around to provide answers and clarifications to your questions. Have a great day ahead and take care.

Roxror
Level 2

If you raise a product sales invoice, is it possible to change the sales code the product has been allocated to afterwards?

Hi, Thank you however that wasn't what I meant.

When you create a product in QB you set it to a sales nominal code such as Sprout Sales for example. What I would like to know is once that sales invoice has been raised, is it possible to change that Sprout Sales code to Lettuce Sales for example?

Maybelle_S
QuickBooks Team

If you raise a product sales invoice, is it possible to change the sales code the product has been allocated to afterwards?

Thanks for providing more information, @Roxror.

 

We can change the income account from Sprout Sales code to Lettuce Sales to the item used on the invoice. Also, there's an option to update historical transactions depending on the item used on the invoice (service, non-stock, or stock item).

 

Here's how:

  1. Go to the Gear icon, and then select Products and Services.
  2. From the Action column of the appropriate item, select Edit.
  3. Select the Income account drop-down arrow.
  4. Choose the account you want to use.

Check out this link for more information: Change the account for a product/service item. It also provides step if you want to update past transactions.

 

I've also added these articles about adding and changing product items in QBO:

You can always back to me if you have other questions. I'm always happy to help. Take care!

Roxror
Level 2

If you raise a product sales invoice, is it possible to change the sales code the product has been allocated to afterwards?

Thank you for your further help, however I don't think I am explaining myself properly.

A Product is assigned a sales code from the chart of accounts.

When a product sales invoice is raised, the sales code in the COA is where the entry is posted.

If I have one product that I wish to allocate to more than one sales code in the COAs, is this possible.

For example, I sell cabbages via the internet, via wholesale and on a market.

I wish to see the sales of cabbages split in my Tb as follows:

Sales Internet

Sales Wholesale

Sales Market

Can I do this or do I need to journal the transactions to the correct sales code?

Or

Do I have to set up 3 different product codes for cabbages - as follows:

Cabbages Internet

Cabbages Wholesale

Cabbages Market

AlexV
QuickBooks Team

If you raise a product sales invoice, is it possible to change the sales code the product has been allocated to afterwards?

Let me share more details about invoices, Roxror.

 

Once you create an invoice, it'll automatically affect the Accounts Receivable and the product's Income Account.

 

The best way to reflect it on the different income accounts is to set up three cabbages (products) and three income accounts. Then, assign each cabbage to their respective income accounts.

 

For easier tracking, you can create subaccounts in your Chart of Accounts. Also, here's how to add product and service items to QuickBooks Online. If you want to edit the items, you can go back to the Products and Services tab and update them at any time.

 

Need more help? Just post again here. Take care!

View solution in original post