Thanks for keeping an eye on this post, and for sharing a screenshot, SmokinBandit.

Yes, you can merge accounts. However, I recommend contacting our accountant for specific instructions about this.

Meanwhile,  you ca open the transactions posted under Inventory Asset - Other on the report. From there, you'll see where these entries came from.

And, if you need to update the posting account of those translations, you have the option to edit the item you've used on the invoice. It'll help organize the data that appears on your reports and ensure your company has an accurate record of your transactions.

To do this, here are the steps you can follow:

1. Go to Settings ⚙ and select Products and Services.
2. From the Action column of the appropriate item, select Edit.
3. From the Income account ▼ drop-down, choose the account you want to use. Can't see the account? Make sure the account's detail type is Sales of Product Income.

If you need to update past transactions, you need to create a new item since inventory items track quantities on hand using First In, First Out (FIFO). FIFO affects your assets and Cost of Sale (COS) differently from service and non-inventory items.

Let me show you how:

1. Go to Settings ⚙ and select Products and Services.
2. Select New, then choose Stock.
3. Enter all the information needed. Make sure to select the correct income account.
4. Select Save and close.
5. Go to the Sales menu, then select Invoices.
6. Select the invoice you want to update.
7. Select the delete (trash can) icon at the end of the line of the old inventory item.
8. Add the new inventory item, and enter the corresponding quantity.
9. Click Save. Do this for the past transactions you want to update.
   
   

If past transactions aren't showing the changes, change the income account then switch it back to the correct one.

Learn more about merging accounts through this link: Delete an account on your chart of accounts in QuickBooks Online.

Let me know if there's anything else you need by commenting below. I'm always around whenever you have follow-up questions about this.