I paid what exactly i need to pay for federal taxes but in balance sheet shows negative amount .what can be the problem ? showing federal tax payable is negative

Hi rehobet23

When running your balance sheet, make sure it runs to the last day of the month.  Often what ends up happening is the various payroll software record the liability on the last day of the month, so if you pay it out before then, and run your balance sheet it shows the payment but not the owing amount - hence the negative value you see.

Hope this helps!