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March 1, 2022
Question

My bank account balance is showing up on my Balance Sheet as a negative number. It has always been positive. I've tried reconnecting by bank many times. Still negative.

  • March 1, 2022
  • 1 reply
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1 reply

March 2, 2022

Your confusion ends here, @nancy-optimised-.

 

Allow me to share some information on why the balance sheet report shows a negative bank balance.

 

A negative bank balance is usually displayed when making payments or creating checks that are larger than the amount of money in your account. To verify, let's review all the transactions associated with your bank account. Here's how:

 

  1. Open the Balance Sheet report.
  2. Specify the reporting period.
  3. Choose the amount of the bank account that shows up as a negative balance. It will pull up its transaction report.
  4. Click the small Gear icon on the report, then select the Debit and the Credit boxes.
  5. Select Run report.

 

Once done, review all the money-out transactions under the Credit column. If the amount for money-out transactions is greater than the money in, it's the reason why a negative balance shows. However, if it's not, you'll want to make sure you select the appropriate accounting method (Cash or Accrual).

 

You might need more guidance in running and customizing reports in QuickBooks Online. This will help you focus on the details that matter the most to you.

 

Should you need further assistance reviewing the negative balance shown on your balance sheet report. I'm available here to help at any time, @nancy-optimised-.