Refrain from changing the sign property on the Working trial balance. Changing this property may affect the rounding of the Jazzit financial statements. Jazzit will automatically flip the debit and credit balances where applicable. Use the Synchronize Account Properties function to ensure that all accounts in the Trial balance have the correct sign in relation to their assigned map numbers.
Ensure that all the signs are selected as follows:
Map number
Sign
1xx.xxxx.xx
Assets
Debit
2xx.xxxx.xx
Liabilities & Equity
Credit
3xx.xxxx.xx
Revenue
Credit
4xx.xxxx.xx
Cost of Sales
Debit
5xx.xxxx.xx
Expenses
Debit
8xx.xxxx.xx
Tax & Other
Debit
Why are the balances on the Jazzit financial statements showing the wrong signs?
There is a few factors that you'll need to inspect. Two reasons could be:
