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December 24, 2020
Question

Account Balance is Negative

  • December 24, 2020
  • 1 reply
  • 0 views

Hello, 

 

Having Issues with my balance showing £-91.80. 

 

If I delete the account then it shows up 91.80 in the balance report.

 

Any ideas? 

1 reply

MariaSoledadG
December 24, 2020

Let get's your opening balance corrected so it would show the correct balance in your bank account history, Super Cereal.

 

This happens if the account has been set to inactive, QuickBooks will make an adjustment entry in the opening balance equity to zero out the amount. You can either edit or delete this entry. Simply go to your Chart of Accounts and make changes from there. Here's how:

  1. Go to the Gear ⚙️ icon at the right top.
  2. Select Chart of Accounts under Your Company.
  3. Locate the account, then click Account history under Action.
  4. Find the opening balance.
  5. You can delete or edit it, make sure to enter a zero amount to fix the opening balance.
  6. Click Save and close.

However, I still recommend reaching out to your accountant for other ways on how to fix this problem without affecting your books.

 

You can also fix opening balance issues in QuickBooks Online to ensure you'll be able to match your bank record. 

 

Keep me posted if you're not doing the right thing when editing your opening balance. I'll always make sure to get back to you if you need further assistance.