in One account Term loan (Excluding installments within one year) shown as negative.
whether it is right or wrong entry.
1 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 30 June 2020
Wrong entry. Nothing shows negative. For example, some erp uses double entries and if you post a reverse transaction it could display negative balance.
For example, if you purchased a car for 1,000 which has a car ledger created, if you double the amount in reverse journal like
Cash a/c 2,000
To Car a/c 2,000
instead of
Car a/c 1,000
To Cash 1,000
then, a negative value could be displayed as I also had seen such a negative balance but can’t remember what it is. Usually there are no negative values when you look up at account summary.
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