Creating an item
Another staff member has created a stock item and has used the incorrect account for the "I buy this item" instead of allocationg "5-2700 Purchases" has accidently allocated "5-2500 Opening stock" i have corrected against the item however on the P & L it is still showing the items as "opening stock" value and has not reallocted them to the "purchases" value
How can i correct this on the P & L
Hi Leah11
When you update the accounts on an inventory item, that only impacts future transactions that use that item. Previously recorded transactions will not be impacted by this change. To update previously recorded transactions you would either be looking at deleting and redoing each transaction or recording a journal entry to correct the balances of the accounts
