NSC | Do Not Update COGS and Asset Accounts on Existing Transactions When Accounts Are Changed

Sceenario

The Do Not Update COGS and Asset Accounts on Existing Transactions When Accounts Are Changed is a new accounting preference introduced in the 2021.2 release that gives users the option to change the COGS/Asset accounts on item records via the UI, without affecting transactions in closed periods.

Solution

To enable this feature, navigate to Setup > Accounting > Accounting Preferences > Items/Transactions tab > Accounts section > Do Not Update COGS and Asset Accounts on Existing Transactions When Accounts Are Changed checkbox.

By default, the preference is enabled and grayed out for new accounts after 2021.2, but for old accounts, the preference is unmarked by default. This is so existing customers could have the choice to enable the preference or not.