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Profit & Loss is getting added to Liability instead of deducting! [Closed]

Abdul Gafoor GK
on 1/29/16, 10:48 AM 559 views

The Question has been closed

on 01/29/2016 10:59:53

Hi All,

I'm a bit confused. Need help from experts here. I'm using Odoo v8.0. When I checked P&L of 2015, it showed me a + figure. But when I checked Balance Sheet of 2015, this P&L amount is getting added to Liability. Shouldn't it be deducted from Liability?

Let me show it through an example. My total income is 1,000.00 and total expense is 700.00, which makes a P&L summary 300.00. In Balance Sheet the whole Liability accounts are listed in -ve and total Liability is -900.00, which is fine for me. But why is P&L 300.00 shown as -300.00 in Balance Sheet and be added to Liability making it total -1,200.00? My impression is that Liability should be -600.00. Please help if I am wrong here and how am I wrong. Or if it is some settings I need to configure in Odoo to have the correct value.

Thank you,

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Asked: 1/29/16, 10:48 AM
Seen: 559 times
Last updated: 1/29/16, 10:59 AM