It is disturbing, that in the Dutch translation the Liabilities haven been translated in “Vreemd Vermogen”. That is not correct. In line with “Acticva” on the debet side of the balance sheet, the right translation should be “Passiva” Please will you change this on short time, because the balance sheet is not in line with different regulations.
Thanks a lot,
Bert
According to E-Boekhouden are Liabilities (Vreemd vermogen) not the same as Passiva but a part of it as is Equity.
Manager is a programme which follows Anglo-Saxon forms of accounting.
Consequently, the balance sheet is divided into three parts, Assets, Liabilities and Equity.
These are respectively translated into Dutch as “Activa”, “Vreemd Vermogen” and “Eigen Vermogen”.
In this context, the Anglo-Saxon form of accounting, it might be better to translate Assets as “Bezittingen”.
Dutch law, see [https://wetten.overheid.nl/BWBR0003045/2024-03-13#Boek2_Titeldeel9_Afdeling3] has a different classification viz. “Activa” and “Passiva”.
Here, “Eigen Vermogen” is part of the “Passiva”, and not a separate part, and the classification “Activa” and “Passiva” is used.
On the balance sheet, “Activa” are divided into fixed and current assets, depending on whether or not they are intended to serve permanently the exercise of the activity of the legal entity.
“Passiva” include separately equity, provisions, liabilities and, to the extent they are not shown under liabilities, accruals and deferred income.
My conclusion is that the translations are not necessarily wrong, bearing in mind that the programme is founded on the Anglo-Saxon model.
For the purpose of presenting the figures, I always use a spreadsheet programme in which the model has been adjusted in accordance with Dutch law, i.e. “Activa” and “Passiva”.
So it would the best solution to implement a possibility to change the description of Assets and Liabilities by the user humself. Exactly the same way, we can use all other items, such as Income and Expenses. Why not for Assets and Liabilities? Then all users all over the world with different legal regulations are satisfied. How simple live can be???
