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militaryman4
Level 1

My chart of accounts has a negative balance on a barter bank account, but when I open the register, it shows an ending balance of zero, which is what it should show. Why does the chart of accounts show a negative balance and not match the ending balance?

My chart of accounts has a negative balance on a barter bank account, but when I open the register, it shows an ending balance of zero, which is what it should show. Why does the chart of accounts show a negative balance and not match the ending balance? 

 

The barter bank account receives money each week, and then two transactions are made to zero it out - one to a bill, the other to the checking account with the remaining money. The chart of accounts has always shown zero after this, matching the ending balance. Except now, it has a large negative number - but the register still shows a zero balance.

1 Comment 1
ZackE
Moderator

My chart of accounts has a negative balance on a barter bank account, but when I open the register, it shows an ending balance of zero, which is what it should show. Why does the chart of accounts show a negative balance and not match the ending balance?

Thanks for joining the Community, militaryman4.
 

To properly identify why your barter account's balance doesn't match the account's ending balance, I'd recommend working with an accounting professional. If you're in need of one, there's an awesome tool on our website called Find an Accountant. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.
 

Here's how it works:

  1. Go to our Find an Accountant page.
  2. In the Find an expert in section, choose what you're looking for, then use your search field to enter a City or ZIP code.
  3. Select Search.
  4. Browse through the results and find one that works best for your business. You can click on each ProAdvisor's profile to learn more information about them.

 

Once you've found an accountant, they can be contacted through their Send a message form:

  1. Use the available text box to introduce yourself. Be sure to include details about which services you're looking for.
  2. Enter your appropriate info in the Your nameYour email, and Your phone number (optional) fields.
  3. Hit Send message.

 

I've also included a detailed resource about working with your chart of accounts which may come in handy moving forward: Learn about the chart of accounts
 

Please feel welcome to send a reply if there's any additional questions. Have a great day!

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