QB Help - Mass change to inventory set up

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#1
Wiles  
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I have a client that set up their Item List in QB incorrectly. They assigned the Income account for all of their Items to be posted to "Inventory Asset". These should have been assigned to their Sales income account.

Unfortunately QB will not let us just change the Inventory Asset type of account from Other Current Asset.

Is there any special tricks here? We have the Accountant Edition.
 

#2
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Can you do the "List edit" I think it is called?
Usually, when you adjust the account associated with an item, you get the option of reassigning all existing transactions too.
~Captcook
 

#3
Wiles  
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Yes. That is one item at a time. They have about 300 items set up incorrectly
 

#4
cp_acwt  
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Backup the QB file. Go to FILE-UTILITIES-EXPORT-LISTS TO IIF FILES. Choose ITEM LIST then OK.
Open the file in Excel, make your changes, save the file. Import the file into QB from the FILE menu.
 

#5
Wiles  
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Thank you!!

I have tried it a couple times and keep getting errors. I will keep trying.

However, if I can get this to work, does it change the prior postings. Or are those transactions stuck in the Inventory Asset account?

Is there a way to change this Inventory Asset account so that I can edit the Type from Other Current Asset to Income? I need QB to release the lock it has on changing the Type.
 

#6
cp_acwt  
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https://quickbooks.intuit.com/learn-sup ... scollapse0

Go to the above link. Scroll down and click on "QuickBooks Desktop for Windows" Scroll down to "edit an IIF file". That will explain how to edit the list in Excel.

Only the Item List changes, the transactions do not. To change the transactions try going to ACCOUNTANT, ACCOUNTANT CENTER from the drop down menu at the top. You should be able to change the existing transactions there in a batch.

The Inventory Asset account, like the Accounts Receivable and Accounts Payable accountants are hard coded in QB and cannot be changed in the Chart of Accounts.
 

#7
Wiles  
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Thank you! I appreciate all the info.
 


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