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gardeningincarli
March 25, 2021

Can QBO change previous Sales Receipts after change to Products and Services Income Type from Sales to another account

  • March 25, 2021
  • 1 reply
  • 6 views

I'm working in QBO. I added several new entries under Products and Services. I thought I was linking them to existing various accounts, however, the default account was Sales. I neglected to change that. Now when I run reports on different accounts, all of my transactions show up under Sales. I do not want that. 

I discovered the mistake and changed the Products and Services to the correct Income Account, however, that did not retroactively change the hundreds of entries that I made under Sales.

Is there some way to force QBO to make this change in previous entries? Otherwise, it will be a ton of work for me to manually delete and add again each and every Sales Receipt.

 
 
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    1 reply

    J
    jamespaul
    Level 8
    March 26, 2021

    Hello, gardeningincarli.

     

    I'll give an overview about updating the income account of your sales items. 

     

    Updating the income account can only be done with non-inventory or service items. For accounting purposes, we're unable to do it on inventory items. 

     

    If you've used non-inventory or service items on your sales receipts, all you have to do is to toggle the income account again. 

     

    There will be a box called Also update this account in historical transactions. You'll want to check it to recategorize your sales receipts under the correct income account. 

     

    To toggle the income account: 

     

    1. Go to the Products and services page again.
    2. Find the service or non-inventory item, then click Edit. 
    3. Change the income account to a different one.
    4. Click Save and close. 
    5. Open the item again.
    6. Change the income account to the correct one.
    7. Check the Also update this account in historical transactions box.
    8. Click Save and close. 

     

     

    If you've used inventory items on your sales receipts, the best way to handle this is to delete and recreate them. 

     

    Our engineers might develop a way to do update the accounts on historical inventory-related transactions. Stay tuned for updates from our newsletters and in-product notifications. 

     

    If you need help managing other transactions or running reports, feel free to browse topics from our Help Articles page.

     

    I'm just a tag away if you have more questions about QuickBooks Online. I'll get back to your thread and help you out. 

    G
    gardeningincarliAuthor
    March 26, 2021

    Thank you @jamespaul ! I did not notice the check box for changing historical transactions - saved me alot of work!

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