Contra Asset appearing incorrectly on Balance sheet

Kristen Beatty
Kristen Beatty
Fourth Anniversary Kudos 1 Name Dropper Facilitator 1
in Blackbaud Financial Edge NXT® General Discussions

I'm having an issue with a contra asset showing as a positive on our balance sheet. When we created our accumulated depreciation account, it was marked correctly as a contra. I just revisited it, and it is still marked as such. Assets are also defined by range that includes the account code for the contra account. When I run the GL detail for that contra account, it shows the balance as a normal credit balance (correct). However, when we run our balance sheet it is showing as a debit balance.

Is this an error in the chart organizer/template being used for the Balance Sheet? We had no errors when we created the template. How can I fix this?

Comments

  • Roberta A. Gilbert
    Roberta A. Gilbert
    Eighth Anniversary Kudos 4 Name Dropper Facilitator 1

    @Kristen Beatty

    I noticed this also. The math on the balance sheet is correct - the Contra account balance is deducted from the Asset, but it's not obvious visually because there are no parentheses around the Contra balance. Having the parentheses there would make it a lot clearer to Board members and non-accountants for sure.

  • Cindy Stults
    Cindy Stults
    Facilitator 1

    I am experiencing this issue as well, on both the balance sheet and the statement of financial position. I opened a ticket with Blackbaud but have not received an answer. Sounds like this should be an easy fix on the report designer's end but they can't seem to figure out how to do it. It's very disturbing to be unable to rely on these financial statements as they are generating from FENXT and having to make manual adjustments in Excel.

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