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V
VIT
September 4, 2020
Question

Negative values on ALL Service items?

  • September 4, 2020
  • 1 reply
  • 0 views

Hi all.  What I'm about to describe I suspect is normal.  But it still confuses me. 

I have QuickBooks Premier Professional Services Edition 2019 (aka: QB Desktop).  

If I open Item List, I have a couple dozen items that are a Service.  

If I right-click any of those Service items and do the QuickReport thing, the resulting report shows all negative values across all transactions, with negative totals.  100% of everything is a negative value. 

 

The reason I suspect this is normal is that all data throughout QB, from my memorized reports to the various graphs, to the actual invoices/payments etc., are all as they should be.  

 

I'm one of those business owners that uses QB to get things done but am no accountant by a long shot, so probably this is some accounting thingy that balances the Balance Sheet or something, but it still kinda freaks me out when my entire set of Services I offer sounds like it's negative profitable! :)  Please advise, thank you.   

 

1 reply

PatriciaT
PatriciaT
September 4, 2020

Hi VIT, 

 

Welcome to the community family! QuickBooks Desktop offers great reports to view important information about your business. Knowing how to analyze those reports is essential to know exactly what going on in your account. I'll be happy to point you in the right direction with this.

 

There are a couple of reasons that could lead to negative values in your Product/Service QuickReport. We'd need to have a closer look at your account to make sure everything is lining up correctly. For that matter, I encourage you to reach out to our tech support team for closer assistance. Here's how to get in touch.

 

Dial 1-877-772-9158. You can learn more about support hours and policies here: Intuit QuickBooks Desktop software support policies

 

Have a great day!

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