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M
METALMACHINE
February 6, 2024
Question

AUTOMATIC PAYMENT SHOWING NEGATIVE ON BALANCE SHEET

  • February 6, 2024
  • 1 reply
  • 0 views

Hey All,

 

  I have an auto payment that gets generated every month right out of my bank account. When I pull up the balance sheet, all the payments are showing as a negative. Any idea why this would happen and how to correct it?

 

Thank you

1 reply

S
SarahannC
Level 9
February 7, 2024

Hello there, metalmachine.

 

The way automatic payments are recorded and categorized in the system determines whether they appear as negative on the Balance Sheet report.

 

Depending on your financial workflow, the negative amount on the report may be accurate. However, if you believe this is an error, you can review the details and make sure to categorize them correctly. It ensures that they are reflected in the report appropriately.

 

  1. Go to the Reports menu.
  2. Open the Balance Sheet report.
  3. Select the negative amount that you believe is inaccurately displayed.
  4. Review the details and change the categorization.

 

If you're unsure about doing this, it's best to consult your accountant for further guidance to make sure your balance sheet is accurate. You can check this article for tips about personalising report: Run reports in QuickBooks Online.

 

Please let me know if you have more concerns about QuickBooks reports. I'll be around to help. 

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