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ffm_acct
January 16, 2024
Question

Quickbooks Balance

  • January 16, 2024
  • 1 reply
  • 0 views

My Quickbooks balance is showing -$68,150 which is wildly incorrect. It's been like this for a while and a few months ago, I contacted support who told me to create journal entries to offset the balance. After consulting with our company's QB expert, she told me that was not the correct action to take. Now, I can't figure out how to resolve this issue. I can't delete the journal entries, since they're tied to deposits. How can I resolve the issue of the negative balance? TIA!

1 reply

K
Kurt_M
January 16, 2024

Welcome to the Community space. We'll help you fix the bank balance inside QuickBooks Online (QBO).

 

You'll want to run a report to review all transactions that you have inside that account. This way, you can determine why your bank account shows a negative balance inside your company. We'll write down the steps below to get you going:

 

  1. Access your QuickBooks Online company.
  2. On the left navigational bar, go to the Transactions tab.
  3. Select Chart of accounts.
  4. Locate the bank account, and then click View register. You can click the amount in each result in your report to access the transactions.
  5. Modify or correct the transaction if needed.

 

You can also reach out to your Accountant so they can help you out with the corrections. If you don't have an accountant, I can help you find one. Feel free to visit this page to find an accountant for your business: Find a QuickBooks ProAdvisor.

 

Furthermore, here are some articles to help you modify a report, and keep your current report settings for future use:

 

 

We look forward to having you here again if you need further assistance managing bank accounts or have any additional QuickBooks-related concerns. Feel free to visit us anytime so we can help you out again. Keep safe

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