Thank you for chiming into this thread, @Pasadena. Allow me to help you fix your negative balance in QuickBooks Online.
Before we proceed, have you entered your Opening Balance? If not, this is why you seeing a negative amount on your end. To fix this, we can double-check your bank register to ensure you entered your Opening Balance.
Here's how:
- Go to Settings ⚙, then Chart of Accounts.
- Find the account on the list.
- Select View register.
- Search for the opening balance entry. It should have "Opening Balance Equity" in the Account column.
- Take note of the date and balance.
Afterward, you can now compare your Opening Balance with your real-life account to ensure your financial records are accurate and reflect your actual financial situation.
- Sign in to your bank's website, or find your bank statement.
- Check the account's balance for the same day as the opening balance in QuickBooks.
- Compare the two balances.
If the balances match, you entered the opening balance correctly. Move on to Step 3.
If the opening balance in QuickBooks doesn't match your bank records, correct it:
- In QuickBooks, select the opening balance entry to expand the view.
- In the Deposit column, edit the balance so it matches your bank records.
- Select Save.
Lastly, you can review your account register to view all transactions made through specific accounts within your business.
Don't hesitate to return to this forum or respond directly to this message if you encounter any further challenges with banking transactions or other QuickBooks Online tasks. We're here to assist you with any aspect of QBO that you find challenging.
