aebrown wrote:I think these two statements are not actually in disagreement, and they are talking past each other. Jdlessley is correct that there is no restriction that prevents ever having a negative balance; Gary_Miller is correct that to carry a deficit is not within sound accounting principles.
There may be minor disagreements as to how promptly a deficit must be corrected, but clearly the guidelines anticipate that deficits may occur within the normal course of events, and deficits do need to be corrected. I would hope that we can agree on those basic principles and not get hung up on absolute positions on relatively unimportant details. I'm sure there's really much more agreement than disagreement on this matter.
I know this is somewhat old, but let me say this: if the negative balance is great enough, you will receive a email from CHQ Accounting very soon after the overdraft directing you to fix the issue. Possibly more than one email.