QBO Tutorials: How to Reclassify Bulk Transactions in QuickBooks Online.
Financial GPS is a virtual bookkeeping company that uses explainer videos and dashboards to help you better understand your numbers and grow your business faster. In the normal course of work, we handle the bookkeeping for our clients to free them up to focus on other aspects of the business like marketing and operations. However, there is a cohort of folks, namely startups and DIY entrepreneurs who prefer to do the bookkeeping internally.
In efforts to help them, too, we've decided to roll out a series of How-To videos designed to teach the ins and outs of QuickBooks Online. Regardless of your company size or industry, you have to know your numbers in order to grow your business. Financial GPS is a guide and resource to help you do so.
In this video, Liz Becerra, the CEO of Financial GPS, breaks down how to reclassify bulk transactions in QuickBooks Online -thereby saving you hours in clean up time. Here at Financial GPS, we typically use the Bulk Reclassification feature in the following scenarios:
To assign a class to journal entries previous recorded
To reclassify journal entries (recorded incorrectly) to another account
Here are the 9 Simple Steps to Reclassify Bulk Transactions in QuickBooks Online
Click the Suitcase icon on the top left of the screen
Click Reclassify Transactions
Select the date range (make sure to include all of the dates that will include the transactions that you want to change)
Select the View (P&L or Balance Sheet)
Scroll down to the account that you want to move your transactions from
Once you do this, the Transactions will show up on the right side of the screen
If you click the box at the top (next to date), it will select all of the boxes. Only choose this if you are certain that you want ALL of the transactions moved. Otherwise, check off the boxes for only the ones that you are changing.
At the bottom of the page, you will see this :For all selected transactions, change - select Account To and then choose the account that you want to move this over to.
Click Reclassify and it will move all of the transactions from one account to another.
That's it! I hope you had that AHA! Moment. Make sure to subscribe to our YouTube channel to check out more video tutorials!