Issue/Symptom/Question

If I want to produce comparative financial statements of actual results against budgeted amounts or historical amounts (history prior to using PENTA), what sign do I enter the amounts in?

Applies To

Finance & Accounting > Data Entry > Budget/History Entry

General Ledger Account History

General Ledger Account Budgets

Data Conversion

Resolution/Fix/Answer

• All amounts, regardless of account type (asset, liability, equity, revenue, expense), are entered as positive amounts.  Even though liability, equity and revenue accounts have a normal credit balance, the amounts for these accounts are entered as positive amounts. 

• Use the Budget/History Entry window to enter the amounts (this example shows a history for a revenue account as positive):

Note:  The Financial Statements setup might skew results depending on if the balance the Account #s are mapped to are set as Credit or Debit.  That field is something to consider when questioning results of an Actual and Budget Comparison Statement.