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Account types non-stadard setup

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edited Aug 26, 2021 8:29AM in Financial Consolidation and Close 2 comments

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Does anyone have the accout types set up in the following way?

- All Balance Sheet accounts set up as Assets (instead of Assets, Liabilities, Equity)

- All P&L accounts set up as Expense (instead of Revenue, Expense)

so that Debit balances are always shown positive and Credit balances are always shown as negative (in the same way as if you run trial balance from your ERP system).

FCC allows this type of set up, its not the default one, and I'm wondering if it works ok? Eg. what implications it may have on EDM, FCC Planning, if any?

Appreciate any feedback.

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