QB Issue Resolution:

The Banking section, and the Accounts section will show a negative bank balance if you are charged successfully for transactions and they take you into your overdraft. You could speak to your accountant if you are unsure of anything about the overdraft.

 

In my experience, i don’t think I’ve seen Accounts called “Overdraft”, most people just include that as part of the banking balance and if it’s minus, you’re in your OD.

Resolution for Issue 'Recording overdraft' available: Yes (Solved).
Source: Intuit Community forum.

Recording overdraft: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for bank balance
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Error Recovery for bank balance [Canada]
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