We are used to “reversed” GL where liability and income accounts are shown as a negative and always thought this was normal. Can anybody tell me if we change to reversed in GL preferences how we will be affected. We went live on 11/1/2020 and would like to see reversed (normal to us).
Thanks in advance
Best answer by meganfriesen37
One the main areas that this affects is how you import your opening trial balances from your historical system (see the section on Sign of Trial Balance on the GL Preferences help screen if this hasn’t been finalized yet: https://help-2020r2.acumatica.com/(W(12))/Help?ScreenId=ShowWiki&pageid=e4913d06-c511-4258-a0f9-f36c1b854e6b).
The other thing to consider is your ARM (Financial) reports and how the system picks up these as positive or negative numbers. See this article under “Formulas and the Sign of the Trial Balance” for more information: https://help-2020r2.acumatica.com/(W(13))/Help?ScreenId=ShowWiki&pageid=fdb54c27-e494-4cf8-8fd8-7ce09ab7c79b