I set in purchases on line as asset instead of cost of sales is it possible to change this without manually changing every invoice

Welcome to the Community!

I’m here to provide you with the best possible assistance. To do so effectively, I need to clarify a few details regarding your situation. Could you please share more about your process and workflow? Have you linked a Purchases online account to an item? Are you looking to edit an expense account for an inventory item? Are your changes related to the Chart of Accounts?

Any additional information will help me assist you more accurately. Feel free to attach any relevant screenshots in your reply.

If you’re looking to edit an expense account for an inventory item, you can do this by following these steps:

1. Go to the gear icon and select Products and services under Lists.
2. Locate the item, and then click Edit under the Action column.
3. Scroll down to the Purchasing section. Then, choose the correct expense account for the item on the Expense account dropdown.
4. Click Save.

Once you make these changes, all historical transactions related to that item will be updated automatically.

On the other hand, if you were referring to editing an account in your Chart of Accounts, you can follow the steps below:

1. Go to the gear icon and select Chart of accounts under Your company.
2. Locate the account. Then, click the dropdown arrow under the Action column.
3. Select Edit.
4. Make the necessary changes.
5. Hit Save.

If you've associated the asset account with an inventory item, a message will appear saying the account must be categorized as an asset. You can simply assign a different inventory account to the inventory item, and then go back to save the changes.

For more info, check out these helpful resources:

• Change the account for a product or service item in QuickBooks Online
• Learn about the chart of accounts in QuickBooks Online

I'll also leave this article on locating and reviewing transactions in your account history: Find, review, and edit transactions in the account history in QuickBooks Online.

Come back to the Community if you have other concerns about your accounts or managing invoices. We're always available for you.