Thanks for bringing this to my attention, WSBConstruction.
Let me share some information about the negative amount shown in the Cost of Goods Sold (COGS).
In some cases, a negative amount in COGS is due to the availability of inventory items. You would need to have more units or inventory sold than goods purchased or might not have purchased any goods in an accounting period but also have returns of a product purchased in an earlier period. In other words, the more you sell items that are low in stock or without replenishing them, the higher the chances of having a negative inventory and COGS.
With this, I recommend checking your inventory items. Then, make the necessary adjustments or reorder anything running low or out of stock.
Once, you can run another Profit & Loss report to check if you can still see a negative amount in the COGS.
You can also refer to this article for more details on how to manage your inventory assets and COGS: Understand inventory assets and cost of goods sold tracking.
Moreover, I'll attach here some helpful references to manage different types of reports:
Let us know if you have other questions about managing COGS and Profit & Loss reports in QuickBooks Desktop. We're always ready to lend you a hand to assist you further. Have a wonderful day ahead!
