Re:Financial Statements: A Beginner's Guide
by jsmith99 on Tuesday July 14, 2020 @06:20PM
(#23838749)
Accountants != Economists
Many ERP systems do use the convention that debits are positive numbers and credits negative and so only have a single column for amount. This is possibly more confusing for non accountants as they have to understand that a negative income balance means they made money.
Many ERP systems do use the convention that debits are positive numbers and credits negative and so only have a single column for amount. This is possibly more confusing for non accountants as they have to understand that a negative income balance means they made money.