In order to get the full value of QuickBooks, it’s important to have your data properly organized. Sometimes you may realize that you need to change the organization of your data. In today’s episode, Bernard Roesch describes how to bulk update QuickBooks data in order to make reorganization easier.
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Why You May Need to Bulk Update Transactions?
There may be situations where you realize you need to bulk update past transactions within QuickBooks.
For example:
- If you run a report and realize the data is categorized incorrectly, or identify a better way to categorize the data, then the only option for achieving your reporting needs is to bulk update the transactions. This may occur if you have something in cost of goods sold but you want to move it elsewhere.
- In addition, you may find that you want to segment out multiple expenses that are currently in the same category.
How to Change Transactions
The specific process may vary depending on which transactions you need to update. In this example, we’ll assume you want to move a specific vendor from the cost of goods sold expense category into another expense account.
In order to accomplish this:
- Run the current reports showing expenses from various accounts and drill down to the specific parts of the report that need to be changed. For example, the expenses from this particular vendor. From this report, you can click on each transaction and change them individually.
- If all expenses by the vendor should be reclassified, you may also be able to do this at the vendor level. Doing this at the vendor level enables you to bulk update many transactions at once.
Need Help Organizing Your Data?
The hardest part of making changes to the organization of your data is identifying the pattern. Once the pattern is identified, various tools can be used to update large numbers of transactions in bulk.
Contact Bernard today, as he has experience reorganizing large amounts of data and tool sets custom-built for this need.
You can also visit MissionBusinessPodcast.com for more insights that Bernard has been sharing with us in the previous episodes.
Unsure of which QuickBooks software to use for your business? MISSION Accounting can help.
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