You can reset the GL account for GL transactions based on the related line item code's current settings. This functionality only applies to transactions in an open accounting period.
- Navigate to Menu > Accounting > General Ledger.
- Use the Quick Search bar to find the transactions you want to reassign.
- In the menu bar, click Actions > Reassign GL Account for List from Line Item Codes.
This will update the GL Account in the found set of transactions, according to the following guidelines:
- Inventory transactions currently assigned to an asset account will be updated to the related LIC's Inventory Asset account.
- Invoice transactions will be updated to the related LIC's Sales account.
- Purchase order and purchase transactions currently assigned to an asset account will be updated to the related LIC's Inventory Asset account.
- Purchase order and purchase transactions not assigned to an asset account will be updated to the related LIC's Cost account.
- Auto-generated GJ transactions currently assigned to an asset account will be updated to the related LIC's Inventory Asset account.
- Auto-generated GJ transactions not assigned to an asset account will be updated to the related LIC's Cost account.
For all other transaction records, the GL account will stay the same.