Opening balances seem back to front

Accounting
1

Hi - so I’m trying to use Quickfile in place of spreadsheet which I send accountant, and they then do something and charge a lot.

I have “trial balance” sheet to input, but I’m confused on what is positive and what is negative.

I’ve put “(0010) freehold property” as a credit / positive number, and directors loan, and mortgages as negative.

I then look at the balance sheet report - firstly its back to front and net assets are negative and mortgages showing as an asset and freehold property as a liability ?

also doesnt show any fixed assets - but the freehold property is a fixed asset ?

Have I just put everything in the wrong columns +/- or more fundamental issue ?

thanks

2

You just need to enter the balance sheet as a minimum, don’t have to use full TB. Assets will be Dr and liabilities will be Cr. Acc Dep Cr, Capital Cr, retained profit Cr / Loss Dr

3

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