Expenses showing in balance sheet as Assets, cash on hand and in bank .

Hi Mike, thanks for posting on the Community. Can we check which specific report you're running in QuickBooks, to offer further guidance on this? 

Apologies Mike, I can see you've stated this is relating to the Balance Sheet report - are the expenses showing under the 'cash at bank and in hand' subheading? If you're able to attach a screenshot of the report, covering any sensitive info and extraneous balances, that would be helpful. 

Hi and thanks for your reply. Attached a couple of screeenshots showing some of the entries from the balance sheet and also where they are categorised as expenses.

2nd attachment

Hello there, @Moike.I appreciate the screenshot you've provided showing the Expenses transactions in the Assets column.

I'd love to help you achieve your goal, but would you mind sharing more details about it? It can help us get on the same page and provide accurate resolution.

In the meantime, when running a Balance Sheet report it's normal that the expenses transactions show as a negative amount, and it's posting to the credit side because of the deduction from your bank. That said, the report you've shared is correct. For more details, see this article: Run a Balance Sheet report in QuickBooks Online.

I'll wait for your reply, or if you have any other questions, please let us know. We're always here to help. Have a great day.

Hi @JoesemM I agree the amounts should show as negative in the balance sheet but he problem is the amounts are showing in Assets as Cash in hand or at bank. A negative figure can not be filed on a balance sheet for Current Assets.

Hi Mike, did you record the correct opening balances when setting up your Cash at bank an in hand account on QuickBooks, and is the account reconciled to date? 

Hi Georgia, yes the opening balance was fine and the accounts are reconciled to zero. I just can't see how literally all categorised Expenses are being added to Current Assets as liabilities in the Balance Sheet.

Hi, Moike. Thank you for getting back and I appreciate you keeping your balances in place and reconciling your account regularly. Let's run some troubleshooting steps to isolate the posting of your Balance Sheet report.

In most cases, incorrect report data and unusual experiences while working with QuickBooks Online (QBO) can happen due to the stored files in your browser. To isolate the posting of your accounts, you can open QuickBooks in a private window to narrow down the result. The process can help remove any cache-related concerns that may have led to the issues. You can use either of these keyboard shortcuts to save you time:

• Google Chrome: Press CTRL + Shift + N
• Safari: Press Command + Shift + N
• Mozilla Firefox: Press CTRL + Shift + P

Once logged in, try to pull up your Balance Sheet report, then customise the details to get an accurate result. If the amounts and accounts are posted correctly, switch back to your default browser, then clear the cache to refresh the system. However, if the categorised expenses are still reflected under Assets, try using other supported browsers to narrow down the result. 

Additionally, you may contact support so a live representative can look into your account securely and review your report further.

1. Open this link: https://quickbooks.intuit.com/learn-support/en-uk/contact.
2. Set your product and edition.
3. Enter a short description of your concern, then Continue.
4. Choose a way to connect with support.

On the other hand, I'm adding this material for more tips while running basic reports in our system: Run reports in QuickBooks Online. The same article will guide you on how to print, mail, and export your reports for future use. 

Keep in touch if you need further assistance with your reports. I'm just a few clicks away to help. Have a great day!