I’m a bit confused.
In the example given in guide 6898, the expense claimed by a member is shown as positive amount in the report Capital Account Summary. And it sounds logic.
In my case, both Funds Contributed and Expenses Claim are shown as negative.
While in the Summary, Equity is shown properly.
I cannot recall I modified anything in the Capital sub-accounts.
Are perhaps Contribution and Withdraw inverted in the translation?
Hoping I did everything correctly, any help/explanation is highly appreciated.
Found…I had to check the Revers sign in the Edit.
Yet…that means that standard: Contribution = negative and Withdraw = positive.
Just to my knowledge, which one is correct/logical?
What you are seeing is just differences in presentation and preferences.
On the Summary page, the capital account balance is shown in commonly used format for balance sheets. Equity accounts are understood to be credit accounts. So when an equity account is in credit, it is shown as a positive number.
The Capital Accounts Summary is purely a Manager report. There is no common format to apply. Manager’s design convention is that credits are handled as negative numbers, debits as positive numbers. (That’s purely a design choice. Some accounting programs are opposite. It does not matter.) So credits on that report are shown as negative numbers, in parentheses.
You can choose whichever option you like. Based on your comments, it seems you prefer the report to match the Summary.
Thank you @Tut ,
I’m releaved! I thought for a while I did something wrong somewhere.
And yes, I prefer the Report to match the Summary. Looks more “positive” after all