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I recorded a deposit to my bank account uncategorized asset, but it's showing as negative on the balance sheet. Why?

 
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Best answer 06-19-2019

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Established Community Backer ***

Re: I recorded a deposit to my bank account uncategorized asset, but it's showing as negative on the balance sheet. Why?

Why? Because you posted it that way. Deposits are banking debits. Bank deposit increases increase that portion of balance sheet.  An asset on a deposit is the sale or disposition of same and is a reduction in that section of balance sheet. Banking up = Asset down (or income)

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Established Community Backer ***

Re: I recorded a deposit to my bank account uncategorized asset, but it's showing as negative on the balance sheet. Why?

Why? Because you posted it that way. Deposits are banking debits. Bank deposit increases increase that portion of balance sheet.  An asset on a deposit is the sale or disposition of same and is a reduction in that section of balance sheet. Banking up = Asset down (or income)