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Should my line of credit be positive or negative on my balance sheet?

I have a line of credit that needs to be manually added to a balance sheet. It is paid off. Should this show up as a negative or positive value on the sheet? How can I show how much is lent to me without having it show up as if it is owed?

Should loans to affiliated companies show up as positive or negative?

I have several loans lent to several businesses. Should this amount show up as positive or negative on a balance sheet?

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Hello susanic,

 

I am so sorry to hear this, when I read your question my mind went blank because I don't like doing that part of my business, hope someone can assist you soon. Best wishes.


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A loan, which is a current liability ( if short-term) will show up a as a negative balance on a your balance sheet. If the loan is an outstanding loan to someone else, it is an asset, a not a liability and should show up as a positive. The line of credit, if not in use, shouldn't show up at all... Make sense?

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