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2 Answers

Ray Carnes

--Ray Carnes--
| 4 2 6
Highland, Stati Uniti d'America
--Ray Carnes--

Business Analyst - Custom Projects


Ray Carnes
19/04/19 22:31

All Journal Items need to be positive.

A negative initial balance may be a credit or debit, it depends on the type of account and the normal balance that account type has.

Normal balance of common accounts:

    Asset: Debit
    Bank and Cash: Debit
    Expense: Debit
    Income: Credit
    Liability: Credit
    Owner's Equity: Credit
    Payable: Debit
    Prepayments: Debit
    Receivable: Debit
    Retained Earnings: Credit

If an INCOME account has a negative initial balance, you would enter that as a positive DEBIT.

If an INCOME account has a positive initial balance, you would enter that as a positive CREDIT.

20/04/19 19:00

Thanks Mr. Ray Carnes.

In our initial balance data, the depreciation assets have a negatif sign that placed in DEBIT. It's mean we have to move to CREDIT with positive value?

Odoo, Ray Carnes
21/04/19 15:41

You should ask the person who made the spreadsheet. A negative DEBIT might be a credit, or it could just be the spreadsheet was exported from a report. On a Report - Accumulated Depreciation negatively affects the DEBIT balance of Assets being depreciated, so might be shown as negative. The meaning of a negative should always be confirmed with someone who knows that the data means.

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