• From: Addis Ababa, Ethiopia
  • Registered: 11/28/2019
  • Posts: 109

Topic: Normal Accounts Balances (Balance Sheet, Trial Balance)

Dear all, hope this find you well.
I have noticed that when, the trial balance report and balance sheet report are not giving the right account balances, when it comes to the side.
As we know each account must display the running balance has either credit or debit, but not both right?
How can we prevent this way of displaying the report!! @joe @rafat

I have given an example below to support my idea.


Accounting Element     Normal Balance     To Increase     To Decrease
1. Assets                                   Debit            Debit     Credit
2. Liabilities                                   Credit            Credit     Debit
3. Capital                                   Credit            Credit     Debit
4. Withdrawal                                   Debit            Debit     Credit
5. Income                                   Credit            Credit     Debit
6. Expense                                   Debit            Debit     Credit


Regards

  • rafat
  • Senior Member
  • Offline
  • From: UAE, Dubai
  • Registered: 11/28/2017
  • Posts: 552

Re: Normal Accounts Balances (Balance Sheet, Trial Balance)

Dear @cedricktshiyoyo,

I have no clue of what your problem is..sorry. Now being a senior member does not mean one knows more than you. I am a senior member maybe because I am over sixty (61 to be exact) or I have done more than 50 posts..I have no deep knowledge of accounting at all and very little IT. I am very good at cut and paste though..

I will throw the ball at @joe..

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