Difference on Credit and Debit Balance on a Bank Account

Question

Dear All 
 Kindly am running two reports to show the closing balances to the same account. When the report is ran on Reports Account transactions Opening balances showing debit balances which it should be but when you run the report using Reports Cash book it shows the credit balance as Closing balance. What is the difference and why credit on cash book and debit on normal ledgers. Please note that we are running the same ledger account: 
 Please find below

Bennie Pienaar · Answer

Good Morning Benard 
 I've tested your query on my own demo company and here are my findings: 
 1. Initially I'm able to recreate your query: 
 The Ledger Accounts Report has an inverse Debit / Credit balance orientation with the Cashbook report: If the former has a Debit Closing Balance or R14300 
 
 then the Cashbook report has a Credit Closing Balance of R14300 
 
 2. However, also note the following: 
 After the above transactions were processed, I also posted a R30 000 payment on the cashbook 
 The result reveals a (15 700) Closing Balance = credit balance because it has brackets around it. 
 
 And this agrees with the updated Ledger Accounts report: 
 
 Therefore, note the following: The debit or credit Closing Balance on the Cashbook report is not determined by it being located under the Credit column. 
 It is only determined by having brackets around it or not: 
 Brackets = Credit balance, No brackets = Debit balance. 
 Kind Regards 
 Bennie

Sage 200 Evolution

Difference on Credit and Debit Balance on a Bank Account

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