Why does QuickBooks show account payable in a negative?

QuickBooks is the software, for small and medium businesses to efficiently manage their accounts. Small businesses trying to overcome their problem of QuickBooks negative account receivable and negative  QuickBooks account payable can often feel that the whole process accounts to monkey business.

Quick Books Account payable is a liability account. It is a representation of all the amounts that the business owes to the customers/retailers, etc. if something way back as not entered correctly, now, one will have to pay for it. A negative balance in account payable represents that the bills were entered and the checks were written against those bills but accidentally somehow the original bills have been deleted or voided.

These bill payment checks are left hanging in the system and therefore creating a negative balance in account payable.

It is very important for a user to know that customer payments and credits that are not applied, can result in a negative income statement. Sometimes account payable can get messed up, when the user waits a while to mail out the checks after they have been printed.

• One can go to the vendor's list
• Now, go to the report menu
• Then, select vendors and payables
• Select the unpaid bills detail report
• Scan through the report, to find out the negative amount
• If any, double-click it to open a bill payment check
• now, no bill will possibly be located here, no amount and nothing to indicate that a check was applied to a bill.
• Now leave this window open and go back again to the vendor’s menu
• Select enter bill. Now enter the bill that was shown on the last screen.
• Ensure to use the same amount as on the check
• Guess the correct due date (better to look for the original bill to get the exact information.)
• Now, after entering, click save and new to leave the window open, if one has more bills to enter. Otherwise, click on save and close to close the window so as to finish the process
• Go back to the bill payments check, after entering the bill
• Now, the bill should be there
• Then, place a checkmark next to it, and enter the correct amount, in the right column
• Now, click save and close. If the user wants to save the transaction, then click yes.
• Now go to the unpaid bills detail report and then click refresh
• The negative amount shown caused by bill payment check must have been gone.
• Follow the above steps to fix all the negative amounts.

Also, a user can follow this 4-step solution to resolve the problem of QuickBooks negative account payable:

1. One should know the basics of account payable
2. Spot the obvious errors of the balance sheet
3. Separate the customer/vendor accounts that have the account payable problems
4. Fix the transactions.

The above mentioned both the solutions will surely help the users to overcome or eradicate the problem of the negative amount in QuickBooks account payable. These steps are the simplest way to fix the problem manually. Even after following the above-given steps if the user is still not satisfied, one can anytime contact the QuickBooks customer care helpline support number to get their problems fixed instantly and quickly. QuickBooks Customer Care Helpline Number 1-877-263-2742 is ready to solve the grievances of its customers 24*7.

Reference URL: https://quickbookserrorsupport.blogspot.com/2019/07/quickbooks-account-payble.html