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Credit balance on nominal ledger bank account

If an opening balance for a nominal ledger bank account is £100. Does that mean the account is actually overdrawn or is there £100 actually in the account?

I was under the impression that an asset account (like a bank account) should have a debit balance.



  • CeeJaySixCeeJaySix Well-Known Registered Posts: 645
    It should. A credit on a bank nominal is overdrawn.
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