Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Good to have you in the Community space, @thetridentpros.
When opening a Trial Balance sheet report, your accounts are shown on the far left side. The column from the right is the Debits and Credits column. I've attached a screenshot below for your visual reference.
Since your accounts are showing on the top line of the report, I recommend logging out and logging in back to your account to refresh the system and isolate the issue.
Furthermore, the Debit column shows you the available balance of the account. Since you mentioned you've used an income category for your transactions, it'll be posted to the Credit column. The system record this as money receive since you've posted it to an income account or category.
If this isn't accurate, you'll want to make sure you used the correct account when making changes to your account. This way, it'll not show in your Credit column. I recommend working with your accountant in making these changes and to ensure the accuracy of your account.
I'm also adding these links for more details about the Trial Balance report and how to modify it:
In case you need to reconcile your accounts in QuickBooks Online (QBO), you can utilize this article for the detailed steps: Reconcile an account in QuickBooks Online.
I'll be around if you need more assistance with your reports and QuickBooks. It's always my pleasure to help you run your business. Take care!
The terms debit and credit are not universal in terms of how they are referred to. In accounting terms, an asset account (your bank account) has a normal debit balance as you notice on your trial balance.
Most people have the idea that when money goes into their bank account, it's a credit. When we say "The bank credited my account", we all understand that to mean that money was put into our account. However, it's only a credit from the bank's perspective. This is because, when a bank takes your cash deposit, the amount of the deposit increases the bank's "customer deposits" liability account. A liability account has a normal credit balance, hence, why it is referred to as a credit. But, from your perspective putting cash into the bank is a debit - an increase in assets.
I agree with Rainflurry and would explain this way too: When the bank says "Credit your account" they are referring to what they are going to do on THEIR books, not what you need to do on YOUR (Quick) books. Know that these entries would be opposite on your book vs. theirs. Credit for theirs is Debit for yours.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here