Im using QBO inventory. My business switched software to one that is integrated with QBO and which created all our inventory items when the syncing process was done. When it did this I selected the each items expense and revenue accounts but never was given the option to select the "Inventory adjustment account". QBO set that account for me to a random paid in capital account that was created by me for the start-up capital we invested. I have since learned that all 1617 inventory items are being adjusted to this paid in capital account because the subaccount matched the preferences set by QBO (see screenshot). This has caused me a huge headache.
How do I correct this to have all 1617 items point to the right account without taking a week vacation to do ever single item individually. Ive gone through the motions for one and it takes 5 clicks and the typing of a 6 letter word to change it to the proper account. That's 17,787 clicks/keystrokes to correct them all. There has to be a better way.
If anyone comments with "Just do a journal entry" I might just lose my mind. I shouldn't have to remember to do that ever month or year.
From doing my own research, it is my understanding that QBO does not allow you to set your default adjustment account and that is the reason I'm in this situation.
