Balance Sheet in MYOB
I'am new to MYOB and have a question around balance sheet liability balances showing positive balance/number. Eg Trade Creditors should always show a credit balance ....but in MYOB it is reported ...
Forum Discussion
Hi keilesh , in some reports, eg the balance sheet, MYOB will display balances as positive where the balance matches that expected of the account type, eg Liabilities are normally in credit, therefore a credit balance would be displayed as positive.
Accounts beginning 1, 5, 6 and 9 are normally debit balances;
Accounts beginning 2,3,4 and 8 are normally credit balances.
Many reports produced in accountants' offices would display debit balances as positive and credit balances as negative.
Just confusing...e,g entering supplier invoice DR Expenses CR Trade Supplier.....but Trade suppliers display's positive number in MYOB. Reviewing the balance sheet i will have to assume under Liabilities - positive is credit and negative balance is debit
