diff --git a/app/Http/Requests/AccountFormRequest.php b/app/Http/Requests/AccountFormRequest.php
index b9281b9d0a..78b5342eb1 100644
--- a/app/Http/Requests/AccountFormRequest.php
+++ b/app/Http/Requests/AccountFormRequest.php
@@ -82,7 +82,8 @@ class AccountFormRequest extends FormRequest
             $data['account_type_name'] = null;
             $data['account_type_id']   = $this->convertInteger('liability_type_id');
             if ('' !== $data['opening_balance']) {
-                $data['opening_balance'] = app('steam')->negative($data['opening_balance']);
+                // opening balance is always positive for liabilities
+                $data['opening_balance'] = app('steam')->positive($data['opening_balance']);
             }
         }
 
diff --git a/app/Services/Internal/Update/AccountUpdateService.php b/app/Services/Internal/Update/AccountUpdateService.php
index 38800d8d34..e990a7d8c4 100644
--- a/app/Services/Internal/Update/AccountUpdateService.php
+++ b/app/Services/Internal/Update/AccountUpdateService.php
@@ -298,6 +298,11 @@ class AccountUpdateService
                 $openingBalance     = $data['opening_balance'];
                 $openingBalanceDate = $data['opening_balance_date'];
 
+                // if liability, make sure the amount is positive for a credit, and negative for a debit.
+                if($this->isLiability($account)) {
+                    $openingBalance = 'credit' === $data['liability_direction'] ? app('steam')->positive($openingBalance) : app('steam')->negative($openingBalance);
+                }
+
                 $this->updateOBGroupV2($account, $openingBalance, $openingBalanceDate);
             }
 
diff --git a/public/v1/js/ff/accounts/edit.js b/public/v1/js/ff/accounts/edit.js
index 55915cd5b5..192c224145 100644
--- a/public/v1/js/ff/accounts/edit.js
+++ b/public/v1/js/ff/accounts/edit.js
@@ -30,5 +30,21 @@ $(document).ready(function () {
             }
         );
     }
+    // change the 'ffInput_opening_balance' text based on the
+    // selection of the direction.
+    $("#ffInput_liability_direction").change(triggerDirection);
+    triggerDirection();
 
 });
+
+function triggerDirection() {
+    let obj = $("#ffInput_liability_direction");
+    let direction = obj.val();
+    console.log('Direction is now ' + direction);
+    if('credit' === direction) {
+        $('label[for="ffInput_opening_balance"]').text(iAmOwed);
+    }
+    if('debit' === direction) {
+        $('label[for="ffInput_opening_balance"]').text(iOwe);
+    }
+}
diff --git a/resources/lang/en_US/firefly.php b/resources/lang/en_US/firefly.php
index 646a6e5ee4..461147f153 100644
--- a/resources/lang/en_US/firefly.php
+++ b/resources/lang/en_US/firefly.php
@@ -1715,6 +1715,8 @@ return [
     'extension_date_is'                         => 'Extension date is {date}',
 
     // accounts:
+    'i_am_owed_amount'                          => 'I am owed amount',
+    'i_owe_amount'                              => 'I owe amount',
     'inactive_account_link'                     => 'You have :count inactive (archived) account, which you can view on this separate page.|You have :count inactive (archived) accounts, which you can view on this separate page.',
     'all_accounts_inactive'                     => 'These are your inactive accounts.',
     'active_account_link'                       => 'This link goes back to your active accounts.',
@@ -2468,7 +2470,7 @@ return [
 
     // recurring transactions
     'create_right_now'                      => 'Create right now',
-    'no_new_transaction_in_recurrence' => 'No new transaction was created. Perhaps it was already fired for this date?',
+    'no_new_transaction_in_recurrence'      => 'No new transaction was created. Perhaps it was already fired for this date?',
     'recurrences'                           => 'Recurring transactions',
     'repeat_until_in_past'                  => 'This recurring transaction stopped repeating on :date.',
     'recurring_calendar_view'               => 'Calendar',
diff --git a/resources/views/accounts/edit.twig b/resources/views/accounts/edit.twig
index 3e3d523295..edc8df2e58 100644
--- a/resources/views/accounts/edit.twig
+++ b/resources/views/accounts/edit.twig
@@ -35,7 +35,7 @@
 
                     {% if objectType == 'liabilities' %}
                         {{ ExpandedForm.select('liability_type_id', liabilityTypes) }}
-                        {{ ExpandedForm.amountNoCurrency('opening_balance', null, {label:'debt_start_amount'|_, helpText: 'debt_start_amount_help'|_}) }}
+                        {{ ExpandedForm.amountNoCurrency('opening_balance', null, {label:'debt_start_amount'|_}) }}
                         {{ ExpandedForm.select('liability_direction', liabilityDirections) }}
                         {{ ExpandedForm.date('opening_balance_date', null, {label:'debt_start_date'|_}) }}
                         {{ ExpandedForm.percentage('interest') }}
@@ -115,6 +115,10 @@
     </form>
 {% endblock %}
 {% block scripts %}
+    <script type="text/javascript" nonce="{{ JS_NONCE }}">
+        var iAmOwed = '{{ 'i_am_owed_amount'|_|escape('js') }}';
+        var iOwe = '{{ 'i_owe_amount'|_|escape('js') }}';
+    </script>
     <script src="v1/lib/leaflet/leaflet.js?v={{ FF_VERSION }}" nonce="{{ JS_NONCE }}"></script>
     <script type="text/javascript" src="v1/js/lib/modernizr-custom.js?v={{ FF_VERSION }}" nonce="{{ JS_NONCE }}"></script>
     <script type="text/javascript" src="v1/js/lib/jquery-ui.min.js?v={{ FF_VERSION }}" nonce="{{ JS_NONCE }}"></script>