5.2 Reclassify Transactions

14 steps

Start in the Sample company.

To complete this exercise, you must be in the Sample company. From your QBOA account, click on the Gear icon on the top right corner of the screen, then select Sample company.

Note that you will be logged out of your current account. If you are sure, click "Continue" to confirm.

Part 1

Now let's get started with the exercise. This is a two part exercise, so let's focus on the first part. How can you easily make Craig's correction?

Click "Accountant Tools", then select "Reclassify transactions".

As a reminder, you should be completing this exercise in the **Accountant version** of the Sample company, as indicated in the first step. It has been reported that sometimes, even when accessing the Sample company inside your QBOA account, you are not taken to the correct version. If you are the wrong version, you will not have "Accountant Tools" at the top. If this happens, you will need to log out and log in again.

The Reclassify tool will automatically search for all the transactions from last month. You will need to increase how far back it is looking. There is an easy way to do this.

In the From: field, type "m". This will automatically change the date to the first of the previous month. Click "Find transactions". This will find all the transactions within those dates.

Now let's narrow down the list to just those for Tania's Nursery.

In the Customer/Vendor field, select "Tania's Nursery".

Note: Customers are listed first. Since Tania is a Vendor, you will have to scroll to the bottom half of the list to find her.

Click "Find transactions".

Click the "checkbox" at the top of the box column to select all of the transactions, then click "Reclassify".

In the Change account to field, select "Job Materials". **IMPORTANT!** Make sure to scroll and click on the ***Expenses*** account, ***not*** the ***Income*** account with the same name.

Click "Apply".

The transactions have all be reclassified.

Part 2

Now let's move on to part two of the scenario. Remember, in the scenario, Craig paid for 2 of Tania's Nursery transactions with his Visa credit card, but he thought he had used his Visa check card, so when he entered the expense, he put that it came out of Checking. Can you use the Reclassify tool to move these transactions to the correct account? What should you do? In short, no, you can only use the Reclassify tool to change the income or expense category, not the payment account. You would have to edit each individual transaction.

Two of the transactions (Expense 50 & 22) were paid with the Mastercard so we will leave those as is. Let's change the Payment account for Expense 15 & 9.