Negative numbers on balance sheet

You came into the right place for help, BuckheadBookkeeper.

The negative numbers showing on the accounts indicate that there is a credit balance that made the company paid more than the expected amount. This can be fixed by creating a Journal Entry to credit the accounts affected. This way, the balance will be zeroed out.

Before doing so, I recommend reaching out to your accountant so they can guide you on which accounts to choose.

Here's how to create a journal entry:

1. Go to + New icon.
2. Select Journal entry.
   
3. Fill out the fields to create your journal entry.
4. Select Save and new or Save and close.

I've got a visual guide on Understanding the Balance Sheet: Asset, Liability,; and Equity. This contains helpful information about managing the balance sheets in QBO.

You  might also want to check out these articles that can give some insight into reconciling process: 

• Categorize and match online bank transactions in QuickBooks Online

• Fix issues when you're reconciling accounts in QuickBooks Online

• Learn the reconcile workflow in QuickBooks

I want to make sure that you're able to get back to running your business as soon as possible. I'll be back around shortly. 

Hi, BuckheadBookkeeper.

Hope you’re doing great. I wanted to see how everything is going about the negative numbers on the Balance Sheet. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.

Looking forward to your reply. Have a pleasant day ahead!