Hi Everyone!
Greetings from Share Mercy, Non-profit in Myanmar. I am Wayan, Secretary General of the agency.
We purchased QB since 2017 and there is no one qualified to delegat to access and apply to it. So, we stopped for some years and recently I re-vitalized our QB database from the beginning. I am also QB, Learning-by-doing user.
I have some questions.
The guy named 'Jack' owed us Ks. 1,150,000 for his commitment to make revolving fund and he was not able to implement it. I put this amount in Accounts Receivable and it shows as the Negative Balance (1,150,000), is it no problem or not?
Besides that A/R account, there are other four accounts also appeared to be the Negative Balances
They are: _
1) our organization owed some staff, saving money, as we were not able to pay due to pandemic _ and the amount is still in our hand, when I recorded as 'Wages & Payroll Taxes', it also shows as Negative Balance.
2) Some staffs took loans Ks. 45,880,000 from us and after we recorded them, it appeared in Negative Balance, too.
3) Thirdly, we have to transport some office stuff and have to pay Ks. 25,000, when I recorded as 'Operation Expense Payable', it also shows in Negative Balance and it has not yet paid out to the transport service.
4) Under Equity, 'Transfer to Unrestricted A/C' also shows as in Negative Balance, -24,677,720.
Are they okay?
Can someone explain to me, please?
Regards,
William a.c. Wayan
