I might have an idea on how to get around with this, AWBEL.
Changing the Asset account on an item won't affect historical transactions. It will only be applied to the future ones. You are likely to create journal entry to correct the data under the asset account. Before doing that, I'd recommend creating a backup copy of your company file and consulting your accountant. They can give you the best option to correct the asset account.
You'll only receive a prompt message to affect previously created transactions if you update the Income account. Meanwhile, the assembly item consists of two or more inventory items. Updating the assembly item's Income Account will not update the inventory items associated to it. Hence, we also need to update the inventory item's Income account.
- Click Lists at the top menu and select Item List.
- Double-click on the inventory item to open the Edit Item window.
- Update the Income Account and click OK.
- Select Yes to confirm the action.
You can also use this link for reference: Track the products you manufacture.
After updating the details, I'd recommend closing all reports and windows related to the inventory assembly. Then, you can close and reopen QuickBooks. With this, the program will refresh and provide you the updated information.
Please let us know if you have additional queries regarding this matter. We'll be right here to further assist you.
