The Volvo service light is a reminder to change the oil at a predetermined mileage from the last service light reset. On the Volvo, it is all done on the tripometer. Some Volvo models have an audible signal when the service engine mileage has been successfully reset. The procedure remains the same on all models. The timing of events in the procedure is the most critical component. If the button is held too long or the key is not turned fast enough, it will not reset the reminder light.
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Turn the ignition key to the "I" position: The key has three positions: the "I" position unlocks the steering column; the "II" position is the normal run position; and the "III" position is the start position. The only ones you need to be concerned with are the "I" and "II" positions.
Depress and hold the tripometer reset button and immediately turn the key to the "II" position.
Release the reset button the instant the mileage changes on the odometer and turn the key off. The service light is now reset.