I appreciate the screenshot you've shared and the complete details about your concern, RMH2022. Dealing with a negative cash balance from a past year due to fraudulent activity can be challenging; Rest assured, I'm here to help you out.
To start, I recommend checking the transaction history in QuickBooks to pinpoint the entries that led to the negative balance. This can be accomplished by looking at the account register associated with the transactions of the year 2023.
After identifying the incorrect transaction, create a bank deposit entry dated 2024 for the amount of $1,650:
- Select + New.
- Under Other, select Bank Deposit.
- Select the payment and the Journal Entry you created.
- The total should be zero.
- Select Save and Close.
Once done, create an adjusting entry in your current accounting period. This entry should include a memo stating that this adjustment is to correct the negative $1,650 balance from 2023.
Nevertheless, it might be beneficial to consult with a qualified accounting professional or reach out to a QuickBooks Live Expert Assisted service. They can review your entries to guarantee the accuracy of your financial records.
Additionally, you can check out this article to learn how to change your closing date and password: Edit your closed books in QuickBooks Online.
If you require further assistance in correcting your negative transactions, please feel free to reach out in the Community space. We are here to support you around the clock.
