To add a bit more info about this problem. The resulting Balance Sheet is like this:
111001 Bank Overdraft $ -16.78
300100 Capital $ -20,000.00
300300 Retained Earnings $ 23,588.99
Profit (Loss) to report $0.00
In this resulting Balance Sheet from Flectra, Capital and Retained Earnings (despite they are of type Equity) are wrongly grouped under Liabilities. The +ve and -ve signs of the 2 numbers are swapped.
I am half-baked in accounting and new to Flectra or Odoo. I am thinking this could not be a bug. It is just too big and too obvious for everyone who runs Balance Sheet. I am thinking is there any settings that I have missed in order to get the Balance Sheet properly generated?