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reverse signs on balance sheet
I created a custom balance sheet in which I’ve moved some of the “BANK” account types to the “OTHER CURRENT ASSET” section. What seems to be happening is that the BANK accounts are showing up in the other current asset section as negative numbers, when they should be positive (they are debit balances). I noticed the “Reverse Sign” box in the Format section of Netsuite and noticed that in order for bank accounts to show up correctly, the “Reverse Sign” is not checked, and for Other Current Assets, the “Reverse Sign” is checked.
So in essence, I understand why the bank accounts are showing up negative, but I don’t understand why Netsuite has it setup that way (i.e. why does Netsuite need “reverse sign” to be checked for an asset balance to show up positive when it is a debit)? This basically seems to make my report impossible and makes no sense to me.