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So it seems to me that the comparative report only adds debits (i.e. negative values) and does not seem to offset those by credits (i.e. positive values). For example if I have two entries for (let's say) "food" in one month one for -30 and an other for +30, the comparative report will show 30 in the total for that month and not 0. I'm hoping this is not by design and it is a bug that can and plan to be fixed. Thanks.

You have to edit the comparative report settings and choose "Total" instead of "Expenses" (the default setting) in the "Compare" field.

Oh, obviously I did not realize the existence of that option. Once I found it and changed it as per your note, I am getting the expected values. Much appreciated pointing that out!