Payments vs Receipts - Bank Accounts & Reports

1

Good day Tut,
I noticed inconsistency with the Payments vs Receipts at the time of reporting. Payments are showing up as Credits and Receipts as Debits in the General Ledger Transactions for transactions against Bank Accounts and consequently other report as not correct such as the Trial Balance. . . .

Could you look into it and advise.

Thanks

2

That is what they are. If you are not familiar with double-entry accounting’s debits and credits, read this Guide: Design a chart of accounts | Manager.

1 Like
3

Interesting, how confusing - Thanks for the link it helps explain