QB Issue Resolution:

It would not change if you old invoices are associated with the inventory item. You would need to go into your old invoices one at a time, and change to the new inventory item, But if they are associated services/non-inventory items, change the income account and select “Also update this account in historical transactions” box (right below income account), it should also change historical transactions as it said. In case you missed selecting that box, follow the instructions below.

How do I change the account my product and service item is associated with?

 

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2017-10-18 (8).png Also update this account in historical transactions

Resolution for Issue 'Product/service showing up under wrong income account' available: Yes (Solved).
Source: Intuit Community forum.

Product/service showing up under wrong income account: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for income account
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Error Recovery for income account [Canada]
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