Banking
Thank you for following this thread, dtnguyen102.
We can see how beneficial the Reclassify Transactions tool is to many users. Thus, it improves productivity and saves business time. I'm here to help provide clarification on the feature mentioned above,
The function is only available in QuickBooks Desktop Accountant, Enterprise, or Accountant Enterprise. If you're using any of these versions, let me show you the steps to correct your data.
To start with, set the fiscal year or date range of entries you want to check. Here's how:
- In your company file, head to the Accountant menu at the top to choose Client Data Review and Client Data Review.
- This action will direct you to the Client Data Review screen.
- From there, go to the Review Date Range section and enter the date in the From and To fields.
- In the Review Basis section, choose Accrual or Cash.
- Click the Start Review button (the first time you use it) or Modify Review for subsequent uses.
- In the Account Balances section, find Reclassify Transactions and press the Status ▼ drop-down to select In Progress.
- Tap the Close button.
After setting the period, you can start reviewing your client's entries and then correct them. Also, you're unable to reclassify data that use Accounts Payable, Accounts Receivable, or change the class.
For detailed instructions on how to move transactions to their appropriate account or class, perform Steps 2 up to 3 in this article: Accountant tools.
In case you want to remove multiple entries in bulk, browse this reference to learn more about the process: Batch delete or void transactions.
We compiled resources that will guide users on how to carry out their accounting tasks using the desktop program. Our self-help articles contain topics about inventory, cashflow management, payroll, and taxes to name a few.
Feel free to click the Reply button and post your comments if you have other QuickBooks concerns or questions about classifying data. I'll get back to assist you further. Have a great rest of the day.
