Thank you so much, @Parvaneh, for taking the time to reach out and provide the necessary details. I truly appreciate your proactive approach in seeking assistance. Allow me to extend my support further by explaining the possible reasons behind the negative balance on your vendors and Balance Sheet in QuickBooks Desktop, as well as providing you with a solution to rectify this issue.
Based on the information you've shared, it appears that you may have accidentally created both a Bill Payment transaction and a Credit simultaneously. This could have resulted in a negative balance, as the bills may have already been paid through the transaction that was created first.
To resolve this, I recommend deleting the credit. Here's a step-by-step guide to assist you:
- Begin by navigating to the Vendors menu in QuickBooks Desktop, and then select Vendor Center.
- Locate and select the name of the vendor associated with the negative balance.
- Within the vendor's profile, search for the vendor credit and click on the Main tab located under the menu bar.
- Next, click on the Delete dropdown arrow to access the option to delete the credit.
- Once you've selected the delete option, ensure that you save your changes by clicking on the Save & Close button. If prompted, confirm the deletion by selecting Yes.
However, if you haven't performed the scenario mentioned above, it's important to ensure that your Balance Sheet report is accurately filtered to display the correct information. This will help you identify any discrepancies and address them accordingly.
Furthermore, similar to the task of reconciling your checkbook, it is essential to examine your accounts in QuickBooks to ensure they align with your actual bank and credit card statements. If you would like to gain a deeper understanding of this procedure, please feel free to peruse the article I have provided for you: Reconcile an account in QuickBooks Desktop.
Thank you once again for reaching out to us. If you encounter any further issues or have additional questions about managing vendor bills in QuickBooks Desktop, don't hesitate to ask. Our dedicated team is always ready to assist you. We appreciate your participation in the Community and look forward to helping you with your QuickBooks needs. Have a fantastic day!
