Reassign purchases under a different category – Stock For Resale

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Q: Reassign purchases under a different category – Stock For Resale

Hi,
Is there any way to reassign Supplier payments (Bills) from ‘Stock for Resale’ to ‘Materials’?
I need all of the Stock for Resale purchases reassigned to the Materials category as its not calculating my Cost of Sales correctly in the Profit & Loss reports and is instead listing everything under Current Assets!
Thanks

  1. Peter Connor November 4, 2014
    Hi Will,

    Sorry for the delay in picking up your question. I'm just going to pass it on to someone with a little better knowledge than me.

    I'll get back to you today.

    Pete

1 answer

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john_bullet ⋅ Staff November 4, 2014
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Hi Will,
Other than going into each of the bills and changing them, there isn’t a bulk way to change the categories.  If you’re looking to know which bills use your ‘Stock for Resale’ category – go to the reports tab, and go to the trial balance.  Click on the “Stock for resale” link, and it will show you everything assigned to the “Stock for resale” category.
John.

#answer-938
  1. WillQ November 5, 2014
    Hi John,
    Because the bills were already included on tax returns the system wouldn't let me change them.
    However, using the Manual Journal Entries feature I was able to credit the Stock for Resale Account and debit the Materials Account so now my company assets are correct.
    I could have done this on an individual transaction basis for the dates of the invoices but instead just did one entry for the full amount.

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