Reports - Keep negative accounts under the same category on balance sheet
I've noticed when an account gets a negative balance (such as an asset) that the balance sheet moves it to liabilities. I also noticed that, although I put "Other Income" at the end of the account list (with a account number of 7000) it still shows up in the income section. Proper accounting reports show "Other Income" and "Other Expense" at the bottom of the balance sheet. Additionally, if an asset account gets a negative balance for some reason it should NOT be moved to liabilities. Please fix this.
Thank you
Suzette Edwards
shared this idea
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Elliott Gaspar
commented
It's really frustrating to have account codes move location on the balance sheet - to anyone using those reports to feed reporting. The fact that it "moves" location on the balance sheet but shows the balance as a positive figure still - means our reporting process can't distinguish between "Bank account" with a positive £6,000 balance and a "Bank account" with a negative £6,000 balance - as in either situation the default report would show it as positive - it's just moved location.
It also means the "cash balance" isn't actually true - it doesn't reflect the sum of the bank accounts.
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Josie Hope
commented
It is very inconvenient to have to set up a rule for a balance sheet to display correctly. It would make more sense to default to the correct view (bank accounts in the asset section) and then if a user wants the presentation with these values in the liabilities section (I can't imagine anyone wanting this option), then they can follow the "switch".
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Weshen Tenggara
commented
It's useless to suggest Xero without any progress or feedback regarding negative balance assets that should not be moved to liabilities.
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Bill Parkes
commented
Can you not move the bank account balance on the balance sheet if it goes into overdraft. Its an asset regardless if its a debit or credit balance