@Angelyn_T 

@robin-miller38 

"When changing an account for your products and services, the changes of the account will only take effect on the historical transactions for the inventory items. The update is not retroactive for the service and non-inventory items. To check the updates accordingly, I recommend closing and opening back your QuickBooks Online account."

It should be quite opposite as it relates to "Also update this account in historical transactions" update:

   Inventory items = No

   Service and Non-Inventory items = Yes