Hi there, rjlmccann.
Welcome back to the QuickBooks Community. I'll ensure to share troubleshooting details to make sure that your Balance Sheet is up to date or stays accurate.
An issue with the balance is typically caused by one of two things. An accounts payable or accounts receivable transaction has affected the Balance Sheet account, or there's an unapplied payment. That said, negative receivable balances are usually the result of customers' credits or overpayments. I suggest running the A/R Aging Summary report to check the associated transactions and review the possible overpayments.
- Click the Reports menu at the top.
- Choose Customers & Receivables.
- Select the A/R Aging Summary report.
- Double-click the negative amount. Then, it opens the A/R Aging QuickZoom report.
- Open the payment that shows an open balance. Then, you're able to verify the payment amount entered.
Once done, there are three options in handling the credit. You can click this article to see the process: Give your customer a credit or refund in QuickBooks Desktop for Windows.
You may also open this article to see additional information on how you can fix the negative receivable balance on the Balance Sheet: Resolve AR and AP balances on the cash basis Balance Sheet.
I'm also adding this article to view some ways to narrow down the transaction or transactions that are causing your balance sheet to go out of balance: Advanced troubleshooting for balance sheets out of balance.
If you need further help with correcting the A/R balances or need further help with the steps, let me know in the comments below. I'll be more than happy to help. All the best!
