cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Not applicable

What does it mean to have a Negative asset and liability accounts?

 
1 Comment
QuickBooks Team

Re: What does it mean to have a Negative asset and liability accounts?

Hello there, lorenaguzman74.

 

Welcome aboard to the QuickBooks Community. I'd be glad to provide a helping hand with regards to your question about your asset and liability accounts.

 

If your total net assets are higher than the entire amount of your liability accounts, your business will have positive figures on financial reports. Additionally, a negative result for assets will come in place if the value is lesser than the total liabilities recorded in QuickBooks.

 

I also recommend seeking expert advice from an accountant if you need more guidance on dealing with negative assets and liabilities. In case you need to make a loan to acquire new assets, I'm attaching an article I find helpful:

 

Record and depreciate assets.

 

Please be sure to let me know the specific purpose you're looking for, and I'll be more than happy to provide information on it.

Need to get in touch?

Contact us