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kchris10
June 30, 2022
Question

Item Cost Change Impacted Historical Transactions

  • June 30, 2022
  • 1 reply
  • 0 views

Sometime in the past 3 weeks, the Cost of a single Inventory Item changed, and the change impacted all historical transactions in QBD, including transactions in closed accounting periods.  A thorough search of "item cost change" reveals that this absolutely should never have happened.  Per everything I can find, changing the Cost of an Item should impact future transactions ONLY. 

Additionally, we cannot figure out how or when the Cost was changed on the Item detail.  It should be $0, and until recently, it was.  A few months ago we duplicated our Company File in order to create a sandbox to work in.  The sandbox file shows the Cost of this item at $0, and all historical transactions have a $0 impact on COGS and Inventory accounts.  The Cost change was clearly recently, and it changed previous transactions, to the point of impacting Financial Reports that have already been used to file taxes (!). 

So here are my questions:

1. How can I find out who changed the Cost of the Item and when?

2. How did the Cost change manage to impact historical transactions??

3. How can I prevent this happening in the future?

Thanks for any help,

(I'm sorry my name really is) Karen

1 reply

T
Trish_T
June 30, 2022

Hi kchris10,

 

Welcome to Community!  It's important to keep your products and services up to date to save valuable time when creating forms.  QuickBooks Online provides the flexibility needed when items change.  I'd be happy to provide more information so you're on the right track with your work!

 

To locate changes that were made to the your inventory, you can go to Settings ⚙ > Audit log.  If you need to make changes to the COGS, you can edit the inventory items by following this helpful guide.  When editing the items you'll see the option to update price in recurring templates.  However, changing the price of an item won't affect existing transactions.  In addition, once you've reviewed the information in the audit log, you can make any necessary changes to user roles and access rights as you see necessary.

 

If you require additional assistance with this situation, please don't hesitate to contact us.  It would be our pleasure to work with you directly and ensure you're back to business as soon as possible.

 

Schedule a Callback or start a Chat: click (?) Help in the upper right in QuickBooks Online > enter "Contact support" > hit Contact Us > provide a brief summary of your situation > hit Let's Talk > choose Get a callback or Start a Chat.
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Support hours are from Monday to Friday between 9 a.m. and 8 p.m. ET.

 

Feel free to reach back out if you have other questions.  We'd be glad to assist!

K
kchris10Author
June 30, 2022

TL;DR: Does anyone else have an actual answer?

 

Hello Trish T,

It's kind of you to take the time to reply, but your answer does not in any way respond to my questions.  

1. I'm not using Quickbooks Online, as I clearly identified in my post when choosing my Product, and even mentioned in the body of the text as QBD.  There is no "Settings > Audit Log" in QB DESKTOP.

2. You state, "changing the price of an item won't affect existing transactions", and yet, this is exactly what happened.  Sometime in the last 3 weeks, the Cost of an Item was changed, and this afftected existing transactions, including in years in which Financials were closed.

 

I still need to know how this happened, and more importantly, how to prevent it from happening again.

Karen

T
Trish_T
June 30, 2022

Hi kchris10,

 

Thanks for getting back to me here.  My apologies for providing information for QuickBooks Online.  In QuickBooks Desktop you can run the Audit Trail report and apply filters to locate specific information.  Simply select Reports on the top menu and choose Account & Taxes from the list followed by Audit Trail.  If you need to review user roles and permissions, click here.  In addition, when a change is made to the price of an item, it won't affect existing transactions as noted in this guide for adding, editing and deleting items in QuickBooks Desktop.

 

For additional assistance and recommendations on how to prevent unauthorized changes, please feel free to contact us so we can work with you directly and look further into this from our end.

 

All the best!

 

 

 

 

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