QuickBooks Online (QBO) does not have a direct way to retroactively associate income, expenses, and invoices with a newly created project. When you create a project in QuickBooks Online, it only tracks transactions created or linked to that project moving forward.
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In the meantime, you can manually assign the relevant income, expenses, and invoices to the project. First, you will need to categorize the existing transactions related to the customer you want to associate with the project. It includes invoices, expenses, and income transactions. To do this, you can edit each transaction one by one and add the project information.
QuickBooks Online feature, the ability to batch update transactions in bulk to assign them to a project. To check if this feature is available, go to the Accounting or Transactions menu, and look for a "Batch actions" or "Batch updates" option. If available, use it to associate multiple transactions with the project simultaneously.
If you have a few invoices associated with the customer, you may consider recreating them. Duplicate the old invoice and assign the project to the new duplicated invoice.
For expenses, you may need to use the "Reclassify Transactions" feature in QuickBooks Online. This feature allows you to change the category or account of multiple transactions at once. You can use this feature to reclassify expenses and add project information to them.
You can create custom reports to track all income and expenses related to a specific project: Customize reports in QuickBooks Online. These reports can help review the project's financial status.
Feel free to post here again if you have further QuickBooks-related concerns. We are available 24/7 to lend a hand with each of your queries. Stay safe!
