I created an opening balance G/L. I posted the income in the income G/Ls as a credit. On my income statement the revenue lines are showing up negative? What did I do wrong? How can I correct it?
Steve,
In addition to what Teddy wrote, if you did load an Opening Balance for your G/L Accounts, if this was the prior years ending balances, make sure you run Close Income Statement to move the Income Statement Accounts to Retained Earnings. I am not certain your Opening Balance Date, so just a reminder.
Steve
Oh, I had the same story. I did a report and changed options. Hope you solved your problem ;) Lately, I read a lot of information about economics quite often. There's so much going on in the world and I felt kinda dumb that I'm not into these topics, especially in economics. I started to work with bitcoins and cryptocurrency recently. So I monitor news and articles like this to be informed what is happening in the sphere I work. Since my salary grew up I began to invest money in different projects to develop them and to let it go selling. Thus, I support newbies with good ideas in business and some percent from income.Source: yourmoneygeek.com/.../
Your chart of accounts will show income as negative, and expense as positive. That is just the way the system works.
If you want to show it the other way around, you can use the Account Schedule to create the report and you will have the option to Show Opposite Sign.
My A/R is showing up as negative as well even though there's only a credit value and no debit value.
Should the expense G/L accounts be negative? They are all showing positive.
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