I'll help you remove the negative Accounts Receivable (A/R) in the Balance Sheet, @AshL.
Thanks for sharing the complete details of your concern. I know how important it is to have an accurate balance, and I'm here to help fix this issue. Thus, your 2022 books and reports will be accurate moving forward.
Before digging in, I advise making a backup copy on your company file for future use. After that, let's run your Balance Sheet report on an accrual basis. Complete the following procedures:
- Go to the Reports menu.
- Select Company & Financial, then Balance Sheet Summary.
- Choose Customize Report.
- On the Display tab, select Accrual under Report Basis.
- Click OK.
- If the balance is out, please rebuild your company file.
If it's out of balance on a cash basis only, or if it's still out of balance after a rebuild, list the transactions that are making your balance sheet out of balance.
Here's how:
- Go to the Reports menu.
- Select Custom Report, then Transaction Detail.
- Enter the date the report went out of balance in the From and to fields.
- Choose the appropriate report basis.
- Uncheck the Account, Split, Clr, and Class in the Column section. Then leave the Amount checked.
- Hit OK.
- Select each transaction one at a time and change the date to a day 20 years in the future.
- Save the report, then refresh it.
- Locate the transactions you dated into the future and re-change the date to 2021.
If changing the dates on the transaction, I'd recommend you should delete and reenter them. For detailed instructions, see this link: Fix a Balance Sheet that's out of balance.
Once done and the balance is still negative, try Advanced troubleshooting for Balance Sheet issues.
In addition, check out these articles below on how to manage AR balances and reconcile them in Quickbooks:
You're more than welcome to post in our Community space again if you have more questions about managing your AR or any topics. We're here to help.
