diff --git a/src/libs/ReportNameUtils.ts b/src/libs/ReportNameUtils.ts
index 4d318f77c5415..a328ac95d1ae5 100644
--- a/src/libs/ReportNameUtils.ts
+++ b/src/libs/ReportNameUtils.ts
@@ -149,6 +149,15 @@ Onyx.connect({
     },
 });
 
+/**
+ * Strips accounting-style parentheses from currency amounts in report names.
+ * The backend formats negative amounts with parentheses (e.g., "($25.00)") instead of
+ * a minus sign. This function converts them to the standard format (e.g., "$25.00").
+ */
+function stripAccountingBrackets(reportName: string): string {
+    return reportName.replaceAll(/\(([^)]*\d[^)]*)\)/g, '$1');
+}
+
 function generateArchivedReportName(reportName: string): string {
     // eslint-disable-next-line @typescript-eslint/no-deprecated
     return `${reportName} (${translateLocal('common.archived')}) `;
@@ -335,7 +344,7 @@ function getMoneyRequestReportName({report, policy, invoiceReceiverPolicy}: {rep
     }
 
     if (report?.reportName && isExpenseReport(report)) {
-        return report.reportName;
+        return stripAccountingBrackets(report.reportName);
     }
 
     const moneyRequestTotal = getMoneyRequestSpendBreakdown(report).totalDisplaySpend;
@@ -780,7 +789,7 @@ function computeReportName(
     }
 
     if (report?.reportName && report.type === CONST.REPORT.TYPE.EXPENSE) {
-        return report?.reportName;
+        return stripAccountingBrackets(report.reportName);
     }
 
     if (isTaskReport(report)) {
diff --git a/src/libs/ReportUtils.ts b/src/libs/ReportUtils.ts
index 14666a3201f96..bb0e4a6d4b96d 100644
--- a/src/libs/ReportUtils.ts
+++ b/src/libs/ReportUtils.ts
@@ -6727,7 +6727,7 @@ function buildOptimisticExpenseReport({
     const storedNonReimbursableTotal = nonReimbursableTotal * -1;
     const report = chatReportID ? getReportOrDraftReport(chatReportID) : undefined;
     const policyName = getPolicyName({report});
-    const formattedTotal = convertToDisplayString(storedTotal, currency);
+    const formattedTotal = convertToDisplayString(Math.abs(storedTotal), currency);
     // This will be fixed as part of https://github.com/Expensify/Expensify/issues/507850
     // eslint-disable-next-line @typescript-eslint/no-deprecated
     const policyReal = getPolicy(policyID);
diff --git a/tests/unit/ReportNameUtilsTest.ts b/tests/unit/ReportNameUtilsTest.ts
index c99d6004434f3..1a2c137d6ef3c 100644
--- a/tests/unit/ReportNameUtilsTest.ts
+++ b/tests/unit/ReportNameUtilsTest.ts
@@ -744,6 +744,25 @@ describe('ReportNameUtils', () => {
             expect(reportName).toBe(CONST.REPORT.DEFAULT_EXPENSE_REPORT_NAME);
         });
 
+        it('should strip accounting-style parentheses from expense report reportName', () => {
+            // Given an expense report with a reportName containing accounting-style parenthesized amount
+            const expenseReport: Report = {
+                ...createExpenseReport(202),
+                reportID: '202',
+                reportName: 'Workspace owes ($25.00)',
+                policyID: '202',
+                type: CONST.REPORT.TYPE.EXPENSE,
+                total: -2500,
+                currency: 'USD',
+            };
+
+            // When we get the money request report name
+            const reportName = getMoneyRequestReportName({report: expenseReport});
+
+            // Then it should strip the accounting-style parentheses
+            expect(reportName).toBe('Workspace owes $25.00');
+        });
+
         it('should not return empty string for expense report with empty reportName when policy has a normal fieldList', () => {
             // Given an expense report with empty reportName
             const expenseReport: Report = {
diff --git a/tests/unit/ReportUtilsTest.ts b/tests/unit/ReportUtilsTest.ts
index 071e3c90a7c91..d8bc958c9b15f 100644
--- a/tests/unit/ReportUtilsTest.ts
+++ b/tests/unit/ReportUtilsTest.ts
@@ -10098,7 +10098,7 @@ describe('ReportUtils', () => {
             const total = 100;
             const currency = CONST.CURRENCY.USD;
             const expenseReport = buildOptimisticExpenseReport({chatReportID, policyID: undefined, payeeAccountID: 1, total, currency, betas: [CONST.BETAS.ALL]});
-            expect(expenseReport.reportName).toBe(`${fakePolicy.name} owes ${convertToDisplayString(-total, currency)}`);
+            expect(expenseReport.reportName).toBe(`${fakePolicy.name} owes ${convertToDisplayString(total, currency)}`);
         });
 
         it('should set reportName to "New Report" when policy field list is empty', async () => {
diff --git a/tests/unit/libs/getClipboardTextTest.ts b/tests/unit/libs/getClipboardTextTest.ts
index 042120d6357b8..15c2480f9aed1 100644
--- a/tests/unit/libs/getClipboardTextTest.ts
+++ b/tests/unit/libs/getClipboardTextTest.ts
@@ -1,5 +1,5 @@
-import Parser from '@libs/Parser';
 import getClipboardText from '@libs/Clipboard/getClipboardText';
+import Parser from '@libs/Parser';
 
 jest.mock('@libs/Parser', () => ({
     // eslint-disable-next-line @typescript-eslint/naming-convention