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howie2
November 27, 2019
Question

When I view Account History in Chart Of Accounts transactions show as Increase/Decrease. Also credit balance liabilities show as positive. How to have it as debit/credit

  • November 27, 2019
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    howie2Author
    November 27, 2019

    When I view Account History in Chart Of Accounts all of the transactions show in columns under Increases/Decreases. How do I instead have it read as debits/credits?

     

    For example, a shareholder loan account that I've lent money to the company. This should show as a credit transaction to the shareholder account and a negative balance. However, in Quickbooks, it comes in as an "increase" and also a positive balance in the account history.

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      LauraAB
      November 27, 2019

      Hello howie2,

       

      It's great to have you join us again. I appreciate how QuickBooks Online's setup and terminology could be confusing. I'll work through this with you.

       

      What terminology you're seeing in the account registers depends on what type of account you've got pulled up. For instance, some accounts will have terms such as charge/credit and payment or payment and deposit. A liability account uses the terms increase and decrease as you're noticing. At this time, there isn't a way to change those terms or input your own. I recommend you leave feedback about this through the Gear icon in your account.

       

      Secondly, I hear what you're saying about the loan account and see how this could be counterintuitive. For these kinds of accounts, including credit cards, the amount will show as positive when there's money owed. A negative amount would mean there's been an overpayment to what's owed.

       

      The increase in this case is an increase in the amount owed. The decrease means you owe less because you've made a payment. If you've set up the loan using steps such as those outlined in the following article, you should be good to go: Record a loan and its payment

       

      We always love hearing feedback from our customers so we can continue to enhance QuickBooks Online and what it does for users like you.

       

      I'm here should you need anything else!

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      UnSatisfiedUser1
      November 1, 2020

      Yet another pleasantly tone deaf and clueless response from QB CS.  I can't get over how many answers completely ignore the question in these forums.  If I asked why the sky was blue, no doubt QB would respond that they like rainbows, too.  Quickbooks used to be the preeminent software for small business accounting, but the subscription model has taken it well outside an Accounting software and more into a small business tracker.  As the CS person refuses to acknowledge, double entry accounting dictates that money owed/liabilities = CREDITS!  NEGATIVE BALANCES!  If they want to have a balance sheet report that restates them using their logic, fine, but a GL activity report should be as-booked (credits shown as negative, etc).  QB has made some sort of marketing calculation that assumes users don't/can't understand DE accounting.  There needs to be an 'accountant' view that properly states activity and balances as credits and debits, based on how I've journaled them, not how QB wants to oversimplify them. Yet another complaint on a growing list

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