How to reclassify transactions | QuickBooks Online Advanced
In QuickBooks Online Advanced (Learn more: http://intuit.me/QBO-Advanced), you can reclassify multiple transactions in a single step instead of one at a time. When you have a parent account with sub-accounts, one common issue is that expenses get categorized to the parent account instead of the sub-account. Normally, you must change the account, class, or location one by one for multiple transactions, but QuickBooks Online Advanced can do it all at once. From “Settings,” select “Reclassify transactions.” Choose the account that the transactions are currently categorized to, and then look for the specific transactions you want to change. Select a checkbox for any transaction you want to edit and then choose “Reclassify” and make your desired changes. Once you apply the reclassification, QuickBooks will make all the changes for you automatically so you don’t have to do them one by one. It’s just one way QuickBooks Online Advanced uses automation to save you time and effort.
In this video:
0:00 With QuickBooks Online Advanced, you can save time by changing the account, class, or location details for multiple transactions in a single step instead of one at a time.
0:28 Let’s look at a common problem on the profit and loss statement.
0:32 Go to “Reports” and “Profit and loss”.
0:34 In our example, this business has a parent account and then sub-accounts for extra detail.
0:40 The problem is that some expenses were categorized to the parent account instead of to the sub-accounts.
0:45 You could fix these expenses one by one, but reclassified transactions is a faster way to correct it.
0:52 Select the “Settings” button, then select “Reclassify transactions.”
1:00 Choose the account that the transactions are currently categorized to.
1:20 Then look for the specific transactions you want to change.
1:35 You’ll see all the transactions that match your search criteria.
1:38 Select a checkbox for any transaction you want to edit and then select “Reclassify.”
1:45 You can change the account, class, and location assigned to the transactions you selected.
2:06 Choose “Apply” when you’re done.
2:10 QuickBooks makes all the selected changes for you, so you don’t have to do them one at a time.
2:18 That’s how you reclassify transactions in QuickBooks Online Advanced.
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