Account management

Welcome aboard to the Intuit Community, Pinacle2580.

A negative cash balance happens when the cash account on the general ledger has a credit balance. This credit is caused by paying more than it has in the account.

Also, checks will not clear from the bank account until three or four days later. To offset the balance of the uncleared checks, let’s create a bank deposit.

1. Go to Banking at the top to choose Make Deposits.
2. When the Deposit screen shows up, pick the correct bank to deposit the funds and key in the date.
3. Under the Received From column, go to the first line and type in the person/institution you’re going to track the transactions.
4. Click the drop-down for From Account and pick the appropriate account.
5. Input the amount and then hit Save and Close.

All checks will show on the Balance Sheet Report since the business is using the Cash accounting method. You can filter the data so only all cleared entries will only show on the report.

Here’s how:

1. On the Balance Sheet Report, tap the Customize Report button to access the Modify Report window.
2. From there, choose the Filters tab to enter Transaction Type in the field box and select Checks.
3. Type in Cleared in the Choose Filter field box and mark the radio button for Yes.
4. Press OK to save the changes.
   

When running the report, you'll see all the cleared entries.

In regard to the Profit and Loss Report, double-click on the amount to open the transaction history.

It will display the Transaction Detail by Account page. From there, you’ll see what consists (Depression Expense) the entry.

For additional resources, I’m adding an article that can help fix issues about the Balance Sheet report: Fix a Balance Sheet that's out of balance.

Additionally, the Customize reports in QuickBooks Desktop guide provide an overview of building reports and refining the data.

Keep me posted if you have any other concerns or questions about QuickBooks. I’m always ready to answer them for you. Have a good one.