Good afternoon, @BrianCole.
Thanks for reaching back out to the Community. Let's work together and get this problem fixed.
To zero out the debit in your Profit and Loss report, you'll need to create a journal entry. This will allow you to correct the information within the report since the average cost didn't update the historical transactions. Here's how:
Note: I recommend consulting with your accountant before doing these steps. They'll be able to give you the best accounting advice for your business. If you don't have an accountant, don't worry. You can check out this link to find one near you.
- Go to the Company menu.
- Choose the Make General Journal Entries option.
- Enter the required information.
- Hit Save & New or Save & Close when you're done.
It's that easy. You can cruise on over to this article about managing your journal entries for additional details.
Creating a journal entry will ensure the debit is a $0 amount. Let me know if you have any other questions or concerns. I'll always be around to help. Have an amazing day!
