QB Issue Resolution:

When you corrected the Product/Service information, the changes will only affect your future transactions, Phoenix2. Unless, you marked the Also update this account in historical transactions box.

 

Let’s edit the item and toggle the affected account:

  1. In the Products and Services page, look for the affected item and click Edit.
  2. Change the affected account and click Save and close.
  3. Click Edit again and correct the affected account.
  4. Mark the Also update this account in historical transactions box.
  5. Click Save and close.

Then, you can go back to the Profit and Loss report. This should refresh the data you have on file.

 

I’ll be right here if you need anything else.

Resolution for Issue 'ok sorry but i found a mistake I made. I labeled a product in “products and services” cost of goods sold. I corected the mistake. but my P&L stills shows a negitve for those Items. How do I fix that?' available: Yes (Solved).
Source: Intuit Community forum.

ok sorry but i found a mistake I made. I labeled a product in “products and services” cost of goods sold. I corected the mistake. but my P&L stills shows a negitve for those Items. How do I fix that?: 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.

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