Credit balance on nominal ledger bank account
Jamesu
Registered Posts: 1
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.
Thanks
I was under the impression that an asset account (like a bank account) should have a debit balance.
Thanks
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Comments
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It should. A credit on a bank nominal is overdrawn.0