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You can change information about an item even if you've already used the item in transactions. The changes you make don't affect existing transactions. When you create new transactions using the item, QuickBooks uses the current information to fill in fields.
Note:
If your company owns multiple copies of QuickBooks Pro, Premier, or Enterprise, no one else can access the QuickBooks file while you're editing items. To switch QuickBooks to single-user mode so you can edit items, ask others to exit QuickBooks. When everyone has logged off, choose File→Switch to Single-User Mode. After you finish editing your items, choose File→Switch to Multi-User Mode and notify your colleagues that they can log into QuickBooks again.
To modify an item, open the Item List window by choosing Lists→Item List, and then double-click the item that you want to edit. QuickBooks opens the Edit Item window. Make the changes you want and click OK when you're done.
Be particularly attentive if you decide to change the Type field. You can change only Non-inventory Part or Other Charge items to other item types. You can change them to Service, Non-inventory Part, Other Charge, Inventory Part, or Inventory Assembly item types (this last type is available only in QuickBooks Premier and Enterprise). If you conclude from this that you can't change a Non-inventory Part item back once you change it to an Inventory part, you're absolutely correct. To prevent type change disasters, back up your QuickBooks file before switching item types (see page 160).
Note:
On page 80 you learned that parts that you keep in inventory have value that shows up as an asset of your company. Non-inventory parts show up simply as expenses. If you change an item from a Non-inventory Part to an Inventory Part, be sure to choose a date in the As Of field that is after the date of the last transaction that uses the item in its Non-inventory Part guise.