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-thetridentpros-
Level 1

Should my trial balance sheet show my account on the top line? And why is its number under the debit column? If I remove a few edeposits it moves back to credit column???

Basically it shows my business account on the debt column but if I remove some positive Edeposits from the transactions it changes back to the credit side accordingly. Why is that? since they are positive transactions shouldn't they add to the Credit and not make it a Debit? I put it under the Other primary income category and it shows up there also. Its almost like its saying the payment was coming out of the account to go to the other category. I'm lost. This is a Trial Balance sheet
3 Comments 3
JasroV
QuickBooks Team

Should my trial balance sheet show my account on the top line? And why is its number under the debit column? If I remove a few edeposits it moves back to credit column???

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. 2.PNG

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!

Rainflurry
Level 13

Should my trial balance sheet show my account on the top line? And why is its number under the debit column? If I remove a few edeposits it moves back to credit column???

@-thetridentpros- 

 

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.

 

 

Teri Wilt
Level 4

Should my trial balance sheet show my account on the top line? And why is its number under the debit column? If I remove a few edeposits it moves back to credit column???

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.

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