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Hi, I have a client and in his Chart of Accounts has a negative Petty Cash Fund Balance. How did it happened?
Solved! Go to Solution.
Hello there, allen25glenn.
The negative balance/amount in the Petty Cash Fund account normally occurs when there is a credit balance. This happens when a business use funds for expenditures more than it has on hand. You'll want to review the transactions in the account to ensure that everything is recorded accurately. Here's how:
I've also added some articles about handling negative deposits in QuickBooks Online:
If you have any other concerns or follow-up questions, just drop them below and I'll get back to you. Have a good one.
Hello there, allen25glenn.
The negative balance/amount in the Petty Cash Fund account normally occurs when there is a credit balance. This happens when a business use funds for expenditures more than it has on hand. You'll want to review the transactions in the account to ensure that everything is recorded accurately. Here's how:
I've also added some articles about handling negative deposits in QuickBooks Online:
If you have any other concerns or follow-up questions, just drop them below and I'll get back to you. Have a good one.
Thanks for the answer.. i will message you whenever I need help. Thank you.
Hi there, allen25glenn.
Please know that you're always welcome and feel free to post if you have any other concerns. We’re always here to help. Have a good day!
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