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PRECIOUSs
Oct 5, 2024 12:00 AM UTC
Question

Negative PayPal balance on balance sheet

Can someone Please help me, we have a negative balance on the balance sheet on PayPal. This was being caused by the entries that were categorized incorrectly on PayPal and not matched right on our bank. I reversed them and matched them correctly however, the balance sheet is still showing the wrong amount. Also the bank reconciliation has a negative value and its the same amount that is a negative on PayPal on the balance sheet.

 

 

4 replies

GebelAlainaM
Oct 5, 2024 2:40 AM UTC

Thank you for posting here in the Community, @PRECIOUSs. 

You seem to have posted twice in this forum. Please click on this link to view my colleague's reply to the initial post: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/re-negative-numbers-on-balance-sheet/01/1493924/highlight/true#M228854

If you have any further questions, you can always come here. The Community Team can assist you at any time.

PRECIOUSsAuthor
Oct 6, 2024 3:21 PM UTC

No but u also picked up on something. PayPal is just a medium and it’s like the payments or were being made from a cr card so there were no deposits actually made into PayPal hence the negative balance. I just don’t know how to fix this though. 

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