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The phrase "a negative balance of" is correct and usable in written English.
It can be used in financial contexts to indicate that an account or financial statement shows a deficit or amount owed.
Example: "After reviewing the account statements, we found a negative balance of $500 that needs to be addressed."
Alternatives: "a deficit of" or "an outstanding balance of".
Exact(25)
The account showed a negative balance of $230,198,494.
A few days later my Betfair account showed a negative balance of -£593.
At the end of September, it carried a negative balance of $8 billion, up from a negative balance of $15.2 billion in the second quarter.
At the end of December, it had a negative balance of $7.4 billion, a slight improvement from a negative balance of $8 billion in September.
They were even gloomier about export prospects, with a negative balance of 25%.
At the end of June, it carried a negative balance of $15.2 billion.
Similar(35)
Samoa has a persistently negative balance of trade.
The country has a persistently negative balance of trade.
As of 2017 포르투갈 had a negative trade balance of $19 Billion in net imports.
As of 2017 印度 had a negative trade balance of $125 Billions in net imports.
As of 2017 미국 had a negative trade balance of $910 Billion in net imports.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com