We’ll go over some of the most common reasons you may have a negative accounts payable account in Quick, and books online. The original bill was deleted If you (or someone else) deleted the original bill after you’ve paid it, then you’ll have a negative balance. That’s because the platform sees a payment with no associated bill.
If you notice a negative balance in A/P, or even if you have certain vendors who show a negative balance in the Vendor list, go to the Reports menu and select Vendors & Payables. Then select the Unpaid Bills Detail report. Scan through the report and look for negative amounts.
Another thing we wanted the answer to was, why does QuickBooks show my credit card balance as negative?
We but quickbooks shows it as a negative amount. Is there a setting I can change to ensure they both do the same ? It is correct that the balance on the credit card will show as negative as this is a liability account showing the balance owed. The bank account is an asset account and will show the balance as a positive amount.
How to fix a negative account payable in QuickBooks?
At times, Quick. Books may show a negative account payable, or any of the listed vendors show a negative balance in the vendor list, then it is recommended for users to follow these given steps to resolve the matter: Open the ‘ Reports ‘ menu. Click on the ‘ Vendors & Payables ‘ option. Once clicked, a detailed report will open on your screen.
Why is there a negative balance on my bill?
If you (or someone else) deleted the original bill after you’ve paid it, then you’ll have a negative balance. That’s because the platform sees a payment with no associated bill. One way to fix this issue is to look at your list of vendors under Expenses > Vendors.
A negative balance in Account Payable sometimes means that bills were entered and checks were written against those bills but due to some reasons the original bills got deleted or removed. The bill payment checks remain unfilled or hanging in the system, showing a negative balance in the Accounts payable.
How do I fix a negative balance on a vendor account?
I’m here to get you pointed in the right direction for fixing the negative balance of a vendor. A check posted to Accounts Payable can be applied as credits to a bill. You can create a bill, then make a payment using the credits. Don’t worry, this will not affect the reconciliation as long as the bank account and the amount stays the same.