Negative numbers on the balance sheet can be caused by many reasons. If you're using online accounting software like QuickBooks ®, this can be very frustrating with what to do, and how to correct? We're experts in diagnosing the issue and the resolution is usually a technical setting or a misunderstanding of the application, a COA not being setup, or an account needing to be identified properly.
The Balance Sheet tracks the Assets and Liabilities of the business. Retained earnings refers to the profits earned by the company, usually a historical period of time, minus the owner's distributions/dividends, they were instead retained by the company.
Give us a call today for a quick balance sheet report review! If you're struggling with negative numbers, rest assured we can help! Not only is tracking your businesses is a fulltime job, but how to manage the software too? Whether you want us to do the bookkeeping FOR YOU or SUPPORT YOU in doing it yourself! Let's chat about what's next! ~ Vicky