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June 28, 2020
Question

I recently changed the income account for most of my services for clearer/specific reports. Can I see these changes reflected in my '19 report without redoing invoices?

  • June 28, 2020
  • 1 reply
  • 0 views
Changes to income account from old invoices seem to be only reflected if I delete the invoice line item, choose the exact same service, retype the description and amount and hit save. Is there a quicker/better way?

1 reply

AddieC
June 29, 2020

Hi there, 

 

As you continue working with QuickBooks Online, you may discover that certain changes can help you better assess your business health. Changing the accounts for your products/services, for instance, may make your bookkeeping easier and help you navigate your reports.

 

Great job with your initial troubleshooting steps. Changing your income account for a product/service will only impact invoices on and after the date you make the change. Previous invoices won't be affected. That being said, if you want to see all your sales reporting to the income account you're now using, you'll have to manually adjust each invoice as you're currently doing. 

 

It's important to note that if you've already reconciled past transactions for 2019, adjusting the account on your invoices may cause discrepancies in your books. I'd suggest consulting an accountant if you're concerned about this. They may recommend undoing previous reconciliations, or they may recommend leaving the previous transactions in their current accounts. 

If you're not yet connected to an accountant in QBO, you can find one in your area here: Find a ProAdvisor. There's so many benefits when connecting with a ProAdvisor accountant. They're certified in QuickBooks and have additional tools that can help save you time. 


I hope this helps to clarify things for you moving forward. If you're in need of any further assistance, please don't hesitate to reach out to our tech support team and an agent would be happy to help.


Cheers.