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Best answer May 17, 2022
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Allow me to step in and check why there's a -$15.30 on the Net Operating Income and Net Income, FP98.
You can click the -$15.30 on the Profit and Loss report to see where the amount is coming from. After clicking the amount, it will open the Profit and Loss Detail report.
Please see the sample screenshots below.
From there, you'll see how QuickBooks calculated the amount that appears on the Net Operating Income and Net Income section. The negative amount shows that there are expenses in that period.
I suggest discussing this with your accountant before writing off inventory items given as promotional samples. This is to make sure you the amounts on your reports are accurate and your books have correct records.
I'm adding these articles to learn how QuickBooks handles your inventory.
- Set up and track your inventory in QuickBooks Online
- What is FIFO and how is it used for inventory cost accounting?
Stay in touch with me you have additional questions about the amounts showing up on your Profit and Loss report. I'll be right here to guide you.
As long as the instructions on the article are followed, the net operation income and net income should be zero, @FP98. Let me provide information to get your inventory for promotional samples issue resolved.
Cached data might be the reason why the net operating income and net income didn’t result in zero. Please know that once the browser's cached files have issues, QuickBooks functionalities may get affected. You can perform some troubleshooting steps to get this fixed.
First, open your QuickBooks Online account in a private or incognito window for testing. Refer to the shortcut keys below for quick navigation:
- Google Chrome: Ctrl + Shift + N
- Safari 11 or newer: ⌘ + Shift + N
- Mozilla Firefox: Ctrl + Shift + P
- Microsoft Edge: Ctrl + Shift + P
Once logged in, review the recorded entries and then run the Profit and Loss report again. If the figure is now zero, get back to your main browser and clear its cache. Doing this helps the program run smoothly. You can also utilize other supported browsers as an alternative.
Here are some screenshots for your visual reference:
I’ve attached a reference in case you want to keep the same report settings for future use: Memorize reports in QuickBooks Online. It helps you access the information quickly to save time.
If you have any other questions or concerns besides promotional samples, just let me know. I’ll be here. Have a good one!
Allow me to step in and check why there's a -$15.30 on the Net Operating Income and Net Income, FP98.
You can click the -$15.30 on the Profit and Loss report to see where the amount is coming from. After clicking the amount, it will open the Profit and Loss Detail report.
Please see the sample screenshots below.
From there, you'll see how QuickBooks calculated the amount that appears on the Net Operating Income and Net Income section. The negative amount shows that there are expenses in that period.
I suggest discussing this with your accountant before writing off inventory items given as promotional samples. This is to make sure you the amounts on your reports are accurate and your books have correct records.
I'm adding these articles to learn how QuickBooks handles your inventory.
- Set up and track your inventory in QuickBooks Online
- What is FIFO and how is it used for inventory cost accounting?
Stay in touch with me you have additional questions about the amounts showing up on your Profit and Loss report. I'll be right here to guide you.
