Certain balance sheet recoverable/payable items can be shown as netted or separate. This is helpful in fulfilling specific presentation requirements or preferences. An example is federal/provincial income tax. When one jurisdiction is in a debit position and the other is in a credit position, the balance sheet can show amounts either separately or netted. Note that long term balances cannot be netted against current balances.

 

 

The option to net recoverable / payable amounts is available for the following balance sheet items:

 

 

 

In the example below we have a credit balance of $25,000 for Provincial taxes payable and a debit balance for Federal taxes payable of $71,854.

 

 

Right-click on the either dropdown that displays the map number 217.2680.0*. The screenshot below shows the balances as separate.

 

 

This is what the balances display when netted.

 

 

 

To access this option, right-click on the map number of the affected line item.

 

 

Please note that this option will not be available if the amount is linking from a note. This will be indicated by a Note in the dropdown. Delete or deactivate the related note to enable the option.