It appears that an update around the beginning of 2016 changed the signs on the Capital Accounts Summary Report. For example, if a partner shows 5,000 in “Amount to Pay” on the Capital Accounts Screen, he shows (5,000) as the Closing Balance on the Capital Accounts Summary Report. Before this change, the signs would have been the same between both locations.
Was this sign reversal intentional? If so, would it be possible to have a report option that reverses the signs for this report back to the original version?
Thanks for the response; I agree with the perspective that the implied liability would be negative equity to the business. It does seem a little odd when the balance sheet shows a positive capital accounts value but the Capital Accounts Summary shows negative.
Not to be argumentative, but version 15.6.17 (~Oct '15) treated this in reverse (i.e. as equity to the partners), compared to versions as early as late Jan '16. I noticed the difference when I first attempted to use the nested chart of accounts released around that time.
In any case, can I request an option be added to invert the signs on a Capital Accounts Summary report so that I have the choice to view it the old way?
I see what you mean now. Yes, balance sheet will reverse sign on liabilities and equity so if your capital accounts are classified under Liabilities or Equity, the report Capital Accounts Summary will be inconsistent with Balance Sheet.
However if your capital accounts are classified under Assets, it will be consistent with Balance Sheet.
I think what I need to do is to invert sign on the report only if capital accounts are classified under Liabilities or Equity, that way everybody will see consistency.