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Old 07-10-2009, 10:56 AM
MagnoliaSimms MagnoliaSimms is offline
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Question Uncleared checks create negative balance in Balance Sheet

Hi All,
My balance sheets continually come up looking pretty sad - lots of negative numbers even though those negative numbers are coming from checks people have not yet cashed in (ie haven't cleared). Is there any way to stop them from showing up as negatives in the Balance Sheets?
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Old 10-19-2009, 09:07 AM
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lisa_mn lisa_mn is offline
Join Date: Nov 2003
Location: Minneapolis
Posts: 3,870
Are these old uncleared checks that should not be in there?

You can void them by entering journal entries debiting cash and crediting the original expense account used on the check. For tracking purposes, I would make a separate journal entry for each check and put 'to void check # xx' in the description of each entry.

Then you can reconcile and clear them off by checking off both the old check and the journal entry.
Lisa Peterson
Streamline Consulting, Inc.
Making Accounting Work For You
Minneapolis, MN

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