Negative Figure on Balance Sheet
Hi, been paying the company tax PAYG(i) by cheque however I have not been creating a bill. Now I have a huge negative figure on my balance sheet against PAYG (i). How do I go about getting rid of this? If I enter a bill to counteract the problem, this amount ends up in 'Accounts Payable' I am not sure about a journal entry or if this is the way to go. If I delete all the cheques for PAYG(i), create new bills and then re write the cheques, I would surely need to do all the bank recs again!?! Help!