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Hi,
sometimes different journal entries are expressed as amounts in the brackets, like FX – sometimes it can be for example (100£) or 100, similar tax payable
how do I know what the brackets mean – whether it is gain or loss, or debit or credit?
Any advice greatly appreciated
Thank you
We never use brackets in journal entries.
Brackets are never used to mean debit or credit.
The only use of brackets is to show a negative number (but we never do this in journal entries).
ok
thank you
it is just sometimes, even at work I see, mostly with costs/gains for FX, sometimes it comes up in the brackets, sometimes not and I dnt know which is gain and which loss unless I can look into it moreYou are welcome 🙂
(I don’t know what they do at your work, but certainly in the exam brackets will only ever mean that is is negative 🙂 )
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