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Why is undeposited funds showing a negative value on the balance sheet

Answer ID: 2398

Undeposited funds can show a negative value on the balance sheet if a payment is deposited with a date that pre-dates the payment. If a balance sheet is run between those two dates it will show a negative, reflecting the deposit withdrawing the funds but not the payment putting them in there in the first place.

If you are intentionally dating deposits before payments, then the report is reflecting the amount correctly. If this is not your normal practice, then you will want to review the payment and deposit to make sure they have the correct dates.

  1. Click on the negative amount showing on the Balance Sheet for Undeposited Funds.
  2. In the Transaction Report, click on the deposit.
  3. Verify the Date listed on the deposit, if it is wrong, correct it and click Save.
  4. If the date is correct, then under Payments find the amount matching the negative number and under Received From click on the customers name. This will open the Receive Payment window.
  5. Verify the date listed on the payment, if wrong, correct it and click Save
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