Can we update the income account on a service item without affecting the existing transactions?

AI generated answer (using internal Slack threads):

****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ****** Yes, you can update the income account on a service item in NetSuite. However, it's important to note that this change will affect both past and future transactions. This means that the income account change will retroactively update all historical transactions associated with that item, including those in closed periods. If you want to change the income account for future transactions without affecting the past ones, the recommended workaround is to create a new item with the desired income account and inactivate the old item. This way, all new transactions will use the new item with the updated income account, while the historical transactions remain associated with the old item and its original income account. Please note that this behavior is different from updating COGS (Cost of Goods Sold) and Asset accounts on items, which does not affect past transactions. This is a feature that NetSuite enabled a few years ago, but it does not currently extend to income accounts.